Private equity exploring bid for Yahoo
- By Yang Xi
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China.org.cn, October 10, 2011
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A Yahoo! sign is seen in New York's Times Square November 18, 2008. [Photo/Xinhua/Reuters] |
Jerry Yang, the Yahoo Inc co-founder and former CEO, is interested in a deal with private equity firms that would take company off public markets, according to people familiar with the situation, Sina.com reported Monday.
In September, Yahoo and its advisers at Allen & Co. and Goldman Sachs began considering a strategic review, which could include a sale of the company.
Jack Ma, CEO of Chinese e-commerce company Alibaba, said last month that he would be "very interested" in buying Yahoo. Bain Capital, another private firm, has expressed interest in bidding for Yahoo. Microsoft has also been taking a look at investing in Yahoo.
Microsoft offered $47.5 billion to acquire Yahoo three years ago. Yang and the board turned down that bid to the regret of many shareholders. But on-and-off talks about the merger then led nowhere.
Yahoo's advisors are expected to send financial information this week to interested parties, said a person familiar with the matter. Talks so far have been informal.
China's business press carried the story above on Monday.
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