Yahoo Inc. disclosed in a filing Tuesday that it has dropped its efforts for a tax-free spin-off of the Web company’s remaining stake in Chinese e-commerce firm Alibaba Group Holding Ltd. The company said that it was informed by the Internal Revenue Service on Sept. 2 that the government entity did not plan to grant Yahoo’s February request for tax-free spin-off, which had sparked big gains in Yahoo stock from investors hungry to access the cash pile locked up within struggling Yahoo. Yahoo, which announced the departure of its chief accounting officer late Friday afternoon, saw shares fall more than 4% at times in after-hours trading Tuesday after the stock closed with 2.2% decline at $30.90.
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