Report: Yahoo! Seeks Deal Before '12

By Matt Egan Features FOXBusiness


The drama surrounding who may acquire at least part of Yahoo! (YHOO) could be wrapped up relatively soon as the search giant is reportedly seeking to cement a deal before the end of the year.

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According to The Wall Street Journal, at least three private-equity firms placed bids for a roughly 20% stake in the Sunnyvale, Calif. company earlier this week worth between $16 and $18 a share -- a few dollars below its asking price. The bidders reportedly include TPG Capital and a group led by Silver Lake Partners and Microsoft (MSFT).

The board of directors, which is set to mull the offers at a meeting on Wednesday, would like to make a decision before the holidays begin, the paper reported. However, no firm deadline has been made and the timeline could change.

Yahoo! is expected to consider a joint bid from Alibaba and Softbank to acquire Yahoo!’s investments in Alibaba and Yahoo! Japan, the Journal reported.

Shares of Yahoo! were up just 0.51% to $15.77 Wednesday morning, significantly underperforming a 2.71% surge on the Nasdaq Composite amid enthusiasm for a coordinated action from some of the world’s leading central banks.

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