Yahoo Inc. is changing course. Again.

After scrapping long-held plans to spin off its valuable stake in Chinese e-commerce provider Alibaba Group Holding Ltd., Yahoo is now considering bundling the rest of its assets — including its Internet business and stake in Yahoo Japan Corp. — into a standalone company.

If Yahoo presses ahead and jettisons the core business, that would give investors a clearer value of those assets, and could make it easier for any suitor to decide whether to make a bid.