Shareholder urges Yahoo to ditch Alibaba spinoff plan
November 19, 2015 5:32 am
An activist investor is pressuring Yahoo Inc. to halt the spinoff of its Alibaba Group Holding Ltd. stake and sell its Internet unit.
In a letter sent to the search engine company, Starboard Value LP said the planned spinoff of over $20 billion in Alibaba shares is too much perilous. The activist investor changed its stance last year, when it pressed Yahoo to make the separation.
The letter also frustration with Yahoo’s response to them. Yahoo shares fell 35% this year, according to people privy to the matter.
Yahoo did not immediately comment on the matter.
Starboard’s position changed after the federal goverment’s move not to decide on whether the Alibaba spinoff would incur billions of dollars in taxes.
The material has been provided by InstaForex Company – www.instaforex.com
An activist investor is pressuring Yahoo Inc. to halt the spinoff of its Alibaba Group Holding Ltd. stake and sell its Internet unit.
In a letter sent to the search engine company, Starboard Value LP said the planned spinoff of over $20 billion in Alibaba shares is too much perilous. The activist investor changed its stance last year, when it pressed Yahoo to make the separation.
The letter also frustration with Yahoo’s response to them. Yahoo shares fell 35% this year, according to people privy to the matter.
Yahoo did not immediately comment on the matter.
Starboard’s position changed after the federal goverment’s move not to decide on whether the Alibaba spinoff would incur billions of dollars in taxes.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: