Yahoo! (YHOO) to Sell Fewer Shares in Alibaba (BABA) IPO
- Stocks Tank as QE Nears End, Major Fund Winds Down, and Ebola Fears
- Traders Eye Relational Investors Stocks on Wind Down
- David Tepper Talks Bonds, Stocks, Fannie/Freddie, Bill Gross and More
- WI-LAN (WILN) Reports Apple (AAPL) Granted Motion for Summary Judgement in Pending Litigation
- Box (BOX) Delays IPO Until 2015 Given Market Conditions - Reports
"We are pleased to announce today that we have entered into an amendment to the share repurchase agreement with Alibaba, reducing the number of shares that Yahoo is required to sell at the IPO from 208 million shares to 140 million shares. In addition, we are aware that there has been much discussion around the allocation of the Alibaba IPO proceeds,”"said Ken Goldman, CFO of Yahoo. "We would like to take this opportunity to let our investors know that we are committed to return at least half of the after-tax IPO proceeds to shareholders, in line with our overarching commitment to maximizing shareholder value through prudent capital allocation."
You May Also Be Interested In
- UPDATE: Yahoo! (YHOO) Active on Chatter
- UPDATE: Skechers USA (SKX) Comments on BRG Report; Says 'Continuing to Take Market Share'
- Streetinsider.com's Hot Lunchtime Reads 9/30: (YHOO) (RADA) (CPRX) (DTV)