Yahoo to explore options for ‘return to greatness’ as Starboard pushes for change

Yahoo has formed a committee of independent directors to explore strategic alternatives, alongside its plan to revamp and spin off its internet business.

The move comes two days after Bloomberg reported activist investor Starboard Value was taking initial steps toward a potential proxy fight with Yahoo.

Starboard, which owns about 0.75% of Yahoo, has been pushing for changes at the internet company since 2014, asking it to separate its Asian assets and sell the core business.