Yahoo!, an American multinational technology giant headquartered in Sunnyvale, California is in process of getting sold.It has been churning on as a variety of potential acquirers and just plain rubberneckers get briefed by management, either by video, phone or in person (only the chosen strategic ones like Verizon and AT&T get that royal treatment).
Sources said Marissa Mayer,yahoo CEO — who has been joined in meetings by her dealmaking shadow Ian Weingarten, legal dude Ron Bell, increasingly grumpy CFO Ken Goldman and always sunny SVP Jeff Bonforte — seems upbeat and is touting her turnaround and downplaying the poor projections that the company confirmed to investors in its sale “book.”
Yahoo, whose shares were up 1.7 percent in early trading, had set an April 11 deadline for preliminary bids, which could yield a deal by June or July, the Wall Street Journal had reported.
Yahoo has launched an auction of its core Internet business, which includes search, mail and news sites, after abandoning its plan to spin-off its stake in Chinese e-commerce giant Alibaba Group Holding Ltd.
The company has been struggling to keep up with Alphabet Inc’s Google unit and Facebook Inc in the battle for online advertisers.
Verizon Communications Inc is ready to make a bid for Yahoo’s Web business, and hopes to make a merger more successful by also making an offer for a stake in Yahoo Japan Corp, Bloomberg reported on Thursday.
Google is also mulling a bid for Yahoo’s core business, Bloomberg reported, citing a source.
Yahoo is also under pressure from activist investor Starboard Value LP which moved to overthrow the entire board of the company, including Chief Executive Marissa Mayer, last month.
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