Report: Yahoo Hiring Advisers To Defend Itself Against 'Cage-Rattling Shareholders

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is preparing for a potential proxy battle against activist investors, including Starboard Value, by hiring advisers who specialize in defense against "cage-rattling shareholders." Related Link:

The New York Post, citing "sources," stated that Yahoo is seeking advise from experts while simultaneously exploring potential buyers for its internet assets. The experts include Innisfree M&A, a proxy advisory firm that is said to specialize in recruiting investor support in board contests and Evercore Partners, an investment bank with a "strong practice" in defending companies against activist investors. "The worry is whether the [sale] process is sincere," a Yahoo shareholder told the publication. "Are they just hoping to string it along for as long as possible and eventually convince people you don't need to sell it?" Meanwhile, Starboard Value is also looking to gain support from Yahoo's shareholders for a board overhall and has hired Okapi Partners, a proxy-advisory firm. Shares of Yahoo were trading higher by 1.60 percent at $30.52 early Monday morning.