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Yahoo sets April deadline for bids

Tuesday, March 29, 2016 - 00:53

Interested bidders have two weeks to submit offers for Yahoo's web business and Asian assets. This comes as the Internet company faces a proxy fight. Fred Katayama reports.

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Interested bidders have two weeks to submit offers for Yahoo's web business and Asian assets. The Wall Street Journal reports that the Internet company set an April 11 deadline for bids. Yahoo's core web business includes its email, sports and finance sites. Its Asian assets include stakes in Alibaba and Yahoo Japan that make up a big chunk of its valuation. Among the companies expected to bid: Verizon Communications and magazine publisher Time Inc. And a source says Microsoft is in early talks with potential investors to help finance a buyout. The Journal says an April deadline could allow Yahoo to close a deal by June or July. That's when Yahoo is expected to hold its annual meeting. Activist investor Starboard Value just launched a proxy fight aimed at ousting the entire board including CEO Marissa Mayer this summer.

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Yahoo sets April deadline for bids

Tuesday, March 29, 2016 - 00:53