Verizon Communications and Google, the main division of Alphabet are considering bids to buy Yahoo’s main business next week, according to those in the know.
First-round bids for the company’s main Web assets are due April 11, according to inside source.
A Bloomberg report shows Verizon and its AOL subsidiary are working with at least three financial advisers on the Yahoo bid.
Hiring so many banks is a sign that Verizon is serious about its takeover plans — it has said since late last year that it was interested in buying some or all of Yahoo.
Google is also contemplating to bid, another report said.
Source: telegraph.co.uk
Yahoo, based in Sunnyvale, Calif., would prefer to sell its 35.5 percent stake in Yahoo Japan, worth about $8.5 billion, along with the core business, another report said.
Source: forbes.com
Verizon, which has a market value of about $213 billion, could give the Yahoo Japan stake to its shareholders or sell it.
Yahoo’s projected revenue will drop almost 15 percent and earnings by more than 20 percent for 2016, based on a slide deck it released to potential bidders recently.
Microsoft failed with a hostile bid for Yahoo in 2008 and will not bid this time, according to people with knowledge of the matter. Japan’s SoftBank Group is not fascinated in buying Yahoo either.
Source: fortune.com
