Tag Archives: Yahoo

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.

Top Yahoo Shareholders Unhappy With Sale Discussions

As per reported information, it has come to light that the top shareholder of Yahoo Inc’s, Capital Research and Management is not at all pleased by the way Yahoo is managing the discussions of the sale.

As per a source familiar with the viewpoints of the institutional investor, CapRe is “extremely unhappy with Yahoo’s board in recent years as well as with the way it is handling the current strategic review process”.

In this regard, CapRe recently contacted Yahoo’s board to express its disappointment and concerns regarding a handful of its sale discussions.

Though various leading news agencies, including Reuters, have published the news along with citing the sources, the majority of them have claimed that the source refused to admit the direct authenticity of the news. In addition, it is somewhat unclear whether or not the managers monitoring Yahoo investment of CapRe have articulated their discontent regarding the sale discussions to Yahoo’s board.

As per reports, Jerry Yang, the co-founder of Yahoo was overseeing an agreement with private equity firms in order to take Yahoo off in bits and pieces from the public markets since it is likely to correspond to his chance of maintaining association with the company.

Earlier on Wednesday, a Yahoo board representative highlighted the points related to a statement released on Friday, which claimed that the strategic review of the Yahoo board is being “properly managed for the benefit of all shareholders”.

Last week, the Chief Executive Officer of Third Point LLC, a shareholder and activist hedge fund, Daniel Loeb fired fresh comments against Yang and insisted on his resignation.

Loeb, in a letter to the Yahoo board, claimed that he was in deep concern seeing the fact that Yahoo is soliciting deals to permit private equity firms to achieve significant equity holdings in the company.