READING MODE  

Embattled search engine turned news aggregator and content provider, Yahoo! Inc, has managed to pick up two potential buyers for its web business. The sale process, even with its faltering start, managed to attract Verizon, which revealed of its plans to make the first-round bid, and pique interest within Google.

The Verizon offer, which includes acquiring a stake in Yahoo! Japan Corp., sees the network provider working with three financial advisers on the bid. This, by all accounts, prove that it is serious with the takeover plan.

Yahoo!-Verizon-Bid

Last year, multiple newsportals had previously reported how Verizon had been keen to take parts or all of Yahoo!.

According to Bloomberg, if the bid is successful, Verizon would move to replace the current CEO of Yahoo!, Marissa Mayer. The likely candidates to take the hot-seat are Tim Armstrong, CEO of AOL, and Marni Walden, Executive Vice President of Verizon.

Google, meanwhile, did not share any of its intentions to buy Yahoo!.

There had been other potential suitors for the buying bid such as AT&T, Comcast, Microsoft, which failed in its hostile take-over attempt of Yahoo! in 2008, Time Inc., and a couple of equity funds that have yet to find a strategic purchasing partner.

Bloomberg has also confirmed that the first-round bids for Yahoo!’s web operations are due on 11 April 2016 so those who are making their plays don’t have much time left to make any additional considerations.

 

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