Yahoo is under pressure to merge with AOL as an activist Wall Street fund pushed today for big changes at the Internet advertising giant. The hedge fund, Starboard, wrote a letter to Yahoo's board with a list of demands to reinvigorate the business.
The Internet company has been in a rut—some would say for years—but most recently since China's Alibaba went public earlier this month. Yahoo! is part owner of the hot Chinese e-commerce firm, and its stake has been a big part of Yahoo!'s value.
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