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The
move comes two days after Bloomberg reported activist investor
Starboard Value LP was taking initial steps toward a potential
proxy fight with Yahoo.
Starboard, which owns about 0.75 percent 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.
Yahoo and Chief Executive Marissa Mayer are under growing
pressure from impatient shareholders to turn the web pioneer's
flailing Internet business around.
Yahoo announced this month it was considering strategic
alternatives for its core Internet business, and said it would
cut about 15 percent of its workforce.
The committee has engaged Goldman Sachs & Co Inc, J.P. Morgan
and PJT Partners Inc as financial advisers, and Cravath, Swaine
& Moore LLP as legal adviser.
The committee and its advisers are working on a process for
reaching out to and engaging with potentially interested
strategic and financial parties, the company said on Friday.
The committee will recommend any proposed transaction to the
board which it feels is in the "best interests" of Yahoo and its
shareholders.
(Reporting by Anya George Tharakan in Bengaluru; Editing by
Sriraj Kalluvila)
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