Weekly News

5 bidders remain for Yahoo's final round: Sources

July 19,2016 17:23

Final bids for the company's internet business were expected yesterday, but no news came out of the company's fiscal second-quarter earnings, when CEO Marissa Mayer said the company was in deep in the midst of "robust" review of strategic alternatives.



×

×

×

show chapters

There are five bidders in the final round for Yahoo's core business, CNBC has learned.

Final bids for the company's internet business were expected yesterday, but no news came out of the company's fiscal second-quarter earnings, when CEO Marissa Mayer said the company was in deep in the midst of "robust" review of strategic alternatives.

Sources told CNBC that their goal is to finish the bidding process by the end of July.

Yahoo's shares had risen about 14 percent so far this year, in part because investors waited to learn its potential owner, according to Zacks' deputy manager Sejuti Banerjea.

Bidders like telecom companies and private equity firms had been reported by Recode to be interested in acquiring Yahoo's core internet business, plus or minus some real estate and patents. Yahoo expected bids to range from $3 billion to $5 billion, according to Recode.

Analysts had told CNBC that Verizon is the likely front-runner to buy Yahoo.

The sale comes amid pressure from activist investors, who had watched Yahoo's stock struggle amid reports of ad fraud issues and middling paid clicks from search — while Yahoo's stake in China's Alibaba soared in relative value.

— Reporting by CNBC's David Faber

Please add a username to view or add comments

JOIN THE DISCUSSION

To learn more about how we use your information, please read our
Privacy Policy and
Terms of Service.

Technology,Marissa Mayer,David Faber,Yahoo Inc,Technology,Mergers,Mergers and Acquisitions,Consumer Technology,US: News,business news

Share this article

Related videos

FIFA 15 - FC Barcelona Player Tournament - Messi, Neymar, Alves, Piqué, Alba, Rakitić, Bartra, Munir
FIFA 15 - FC Barcelona Player Tournament - Mess...
Another Secret PPC traffic source - Advertise.com
Another Secret PPC traffic source - Advertise.com

DON'T MISS THIS STORIES