Yahoo! Inc. (Nasdaq: YHOO) hired financial advisers and formed a committee of independent board members to explore its strategic options, taking steps to transform itself and consider deals amid rising pressure from investors.

Goldman Sachs Group Inc., JPMorgan Chase & Co. and PJT Partners Inc. will provide financial counsel, according to a statement Friday. The company also named Cravath, Swaine & Moore LLP as its legal adviser. The strategic review committee will establish a process to reach out to potentially interested parties and make recommendations on any proposed transactions, Yahoo said.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.