Yahoo To Spin Off Rest Of Alibaba Stake To New Company
By Kat Greene (January 27, 2015, 4:21 PM EST) -- Yahoo Inc. said Tuesday it will spin off its remaining 15 percent stake, worth about $40 billion, in Alibaba Group Holding Ltd., potentially avoiding a proxy battle with Starboard Value LP after the tech company made $9.4 billion in the Chinese e-commerce giant's record initial public offering last year.
Yahoo CEO Marissa Mayer told investors the company will spin off its stake in Alibaba to create two independent companies: SpinCo, which includes all of Yahoo's remaining shares in Alibaba and a legacy ancillary operating business of Yahoo's; and Yahoo, which includes the tech company's operating business and its 35.5 percent equity...
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