- Activist investor Starboard Value is putting new pressure on Yahoo (YHOO), calling on the company to halt the more than $20B spinoff of its stake in Alibaba (NYSE:BABA) and instead sell its beleaguered Internet business, WSJ reports.
- The change in Starboard's position follows the federal government's decision not to rule on whether the Alibaba spinoff would incur billions of dollars in taxes, a move the investor now feels "carries too much risk."