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Report: Yahoo Prepared To Proceed To Round 2 Of Bidding For Its Internet Properties

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According to a report by Bloomberg, Yahoo! Inc. (NASDAQ: YHOO) is prepared to move on to round two of bidding for its internet properties and could inform potential buyers if they have made it through to the next stage.

Bloomberg, citing "people with knowledge of the matter," reported that Yahoo's advisers were expected to spend the weekend narrowing the group of 10 bidders. The bidders presented a range of offers between $4 billion and $8 billion.

Bidders include Verizon Communications Corp. (NYSE: VZ) and private equity and buyout firms, including YP Holdings, TPG, and a consortium of firms led by Bain Capital and Vista Equity Partners.

Bloomberg added that while Japan-based SoftBank has no interest in acquiring Yahoo's internet business, the firm is interested in holding discussions with any buyer that wants to acquire a stake in Yahoo Japan.

Bloomberg added that Yahoo will provide the bidders that made the cut to round two with increased access to internal documents and management. Meanwhile, Yahoo and its advisers are speaking with the potential bidders to "glean more information about the structure of the various offers, and to get a sense for how much analysis they've already done on the deal," Bloomberg noted.

A final winner for the assets is at least one month away.

Shares of Yahoo were trading lower by around 0.50 percent Monday morning.

 

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