April 8, 2016 Comments Off on Verizon Joins List of Yahoo Suitors Views: 263 California News, National News

Verizon Joins List of Yahoo Suitors

The number of bidders for Sunnyvale-based Yahoo Inc. is growing. Verizon Communications Inc. plans to make a first-round bid next week for Yahoo’s Web business, and is reportedly working with at least three financial advisers on the offer.

Other suitors may include Google, which is reportedly considering bidding on Yahoo’s core business. Time Inc. is evaluating a bid, while private equity funds Bain and TPG could bid, either alone or with a strategic acquisition partner. Among the companies not planning to bid are AT&T, Comcast, and Microsoft.

Earlier this year, Yahoo began exploring strategic alternatives, including selling its main Internet operations. The company’s stock has declined about 20 percent in the past 12 months, as turnaround efforts stalled and sales sagged, leaving the company vulnerable to activist investors.

Read More at Bloomberg

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