Activist investor Starboard Value LP which owns less than 1% of Yahoo's shares has delivered another letter to Yahoo's board asking for a change in management, board composition, and changes in strategy and execution. In the same letter, Starboard cited that it was growing increasingly frustrated even as it attempted to work constructively with the board.
Yahoo was previously considering a sale of it's Alibaba business but has now decided to put it on hold after there was no certainty that the sale would not be taxed. Starboard which first proposed the sake is now encouraging a sale of Yahoo's core search and advertising business instead.
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