Category Archives: John Spelich

Blackstone Group, Bain Capital Mulling Joint Yahoo Bid, says Report

There are media speculations that Blackstone Group and Bain Capital are mulling the option to buy Yahoo Inc for about $25 billion. However, there is no confirmation yet from any of the sides. It has also been said that the duo would be approaching Asian partners, including China’s Alibaba Group and Japan’s Softbank Corp, to make a bid for the same.

For long, the share of the company had been stable at $20 per share, and if this figures is quoted, then the worth of the deal is somewhat closer to $25 billion.

It has been known that Chinese e-commerce giant Alibaba has long been trying to buy back a 40% stake gained by Yahoo, but will it go for this bid is yet not known. The company which has been battling tough competition from Google Inc. and Facebook in growing Internet ad market has been going through rough patch off lately.

“Alibaba Group has not made a decision to be part of a whole company bid for Yahoo”, said Alibaba Group spokesman, John Spelich, when asked about the media reports.

It has been known that the company had been mooting on this option since the time the Internet Company booted out its CEO Carol Bartz. So far, none of the directors have come out to confirm on any such option, Tim Morse, Yahoo’s chief financial officer, has been handling the responsibilities of the CEO. There are possibilities that new CEO is roped in for the same position.

There are others like Silver Lake Partners, Providence Equity Partners and Kohlberg Kravis Roberts & Co who are trying to get hand on the stake of the company. While the news has certainly raised hopes of the investors, shares of the company moved up by 6% $16.72 in extended trading.