Short Bytes: As the April 18 deadline for the bids to buy Yahoo is approaching, new details are emerging on the surface. According to a report, giants like Verizon and Google are interested in the deal.
Slowly and gradually Yahoo faded away in the technology world. As a result, the company has put itself for sale. If we talk about the potential buyers, a number of companies are interested.
Google is currently mulling a bid to buy Yahoo’s web business, according to a report from Bloomberg. The report also mentions that Verizon is going to make a first-round bid for Yahoo. The other bidders could be Time Inc. and private equity funds like Bain and TPG.
AT&T and Comcast, other potential buyers, have decided to give up the idea of bidding, according to sources. Microsoft, a company that was interested in buying Yahoo in 2008, won’t be bidding this time.
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Yahoo launched the auction of its core business back in February after it gave up the plans to spin off the stakes in Asian e-commerce giant Alibaba.
According to Bloomberg’s report, Verizon values the core business at less than $8 billion.
“Shares of Yahoo Japan jumped 6.4 percent in Tokyo, the biggest gain in almost three months. Yahoo shares fell 1.3 percent to $36.17 in New York Thursday,” the report adds.
The company has extended its deadline for making the first-round bids by a week i.e. April 18.
