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Report: Yahoo Will Reach Out To Potential Buyers As Soon As Monday

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Bloomberg reported on Sunday that Yahoo! Inc. (NASDAQ: YHOO) is planning on reaching out to potential buyers for its internet assets as soon as Monday.

Bloomberg, citing "people familiar with the process," stated that Yahoo will reach out to potential corporate buyers including Verizon Communications Inc. (NYSE: VZ), Comcast Corporation (NASDAQ: CMCSA) and AT&T Inc. (NYSE: T). The company is also said to be reaching out to private equity firms to discuss a sale of its assets.

Bloomberg added that potential first round bids for Yahoo's assets are not likely to come in for at least a month. Meanwhile, Yahoo is reportedly hiring advisers and experts ahead of a potential proxy battle against activist investor and shareholder Starboard Value.

Shares of Yahoo were trading higher by 1.60 percent at $30.52 early Monday morning.

Posted-In: Private Starboard Value Yahoo Yahoo Asset SalesM&A News Rumors Tech

 

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