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Yahoo Update: Recode Says Marissa Mayer Is Actively On Board With Sale

Yahoo Update: Recode Says Marissa Mayer Is Actively On Board With Sale

Yahoo! Inc. (NASDAQ: YHOO) CEO Marissa Mayer seems to have had a change of heart over the sale of the company, as a Recode report said she is actively on board with the sale.

The report said Marissa Mayer has been taking front and center stage of the proceedings, as the second round of bidders have begun holding all-day meetings with Yahoo's top management.

"[H]er initial recalcitrance regarding the sale seems to have disappeared and that she is participating actively," the report said, citing several people in attendance at meetings.

"She is the one in clear charge of the sale now, if you judge by the new presentations. It's her show," the report added.

Related Link: Warren Buffett Talks Yahoo, Says Company Deteriorated Significantly

Recode noted, "Mayer is now much more voluble in answering questions and explaining Yahoo's business units."

But, it is unclear what Mayer's status will be following the sale of the company.

Would Mayer Stay?

"I cannot imagine a scenario where we keep her," the report quoted one potential buyer as saying. "Yahoo will need a clean slate."

However, Mayer stands to receive $54.9 million as part of a severance package if she were to be terminated without cause.

According to the report, if Verizon Communications Inc. (NYSE: VZ) takes over, there is AOL head Tim Armstrong to take care of Yahoo business, while Bain/Vista has a "passel of ex-Yahoos it is working with including former interim Yahoo CEO Ross Levinsohn."

Meanwhile, the overhang on the sale process has been cleared after Yahoo's recent agreement with activist investor and major shareholder Starboard Value.

Shares of Yahoo closed Monday's regular trading at $37.18; shortly after Tuesday's opening bell, the stock was trading flat.

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