Scalper1 News
Yahoo ( YHOO ) CEO Marissa Mayer is center stage as the Web portal moves toward a second bidding round, with Verizon Communications ( VZ ) and others in the mix, says a report from online tech news site Recode. The second round of bidding is expected “around June,” says the Recode report. Mayer remains in charge of a likely Yahoo sale after the Internet firm added four new independent directors to its board under pressure by activist investor Starboard Value. While Verizon, which acquired AOL last year for $4.4 billion, has been viewed as the front-runner, private equity firms TPG and a combination of Bain Capital and Vista Equity Partners will also be involved in the next round, says Recode. Earlier reports said Microsoft ( MSFT ) could provide some funding to a private equity firm to ensure that its relationships with Yahoo stays friendly. Microsoft tried to buy Yahoo in 2008. AOL Chief Executive Tim Armstrong reportedly is in charge of Verizon’s attempt to buy Yahoo. Mayer’s relationship with Armstrong , when they both worked at Alphabet’s Google, has been a topic of Internet media speculation. Mayer stands to get a $55 million payout if she’s forced out as CEO after Yahoo is sold, say reports. Yahoo stock was flat in afternoon trading in the stock market today , near 37. Yahoo’s market cap is near $35 billion, but the great majority of its value is its 15% stake in China e-com giant Alibaba ( BABA ), as well as its stake in Yahoo Japan. Analysts in general expect bids in the $5 billion to $8 billion range for Yahoo’s core business. Scalper1 News
Scalper1 News