Yahoo! (YHOO) Gets More Takeover Bids, But Some Hiccups Remain
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Following reports late Wednesday Yahoo! (Nasdaq: YHOO) might have bidders circling at $16 to $18 per share, some negative news on the situation has emerged.
Reuters said some potential buyers are balking at Yahoo!'s "no cross talk" rule, in which bidders may not discuss with others anything about Yahoo!'s confidential financial information in order to prevent joint bids, and a potentially lower price. Some private-equity firms have become so distressed about the situation, they have refused to sign non-disclosure statements.
Reuters also noted Yahoo!'s market cap of about $20 billion might make it too big of a pill to swallow for a sole bidder, save for Microsoft (Nasdaq: MSFT).
Alibaba CEO Jack Ma reiterated his company's interest in buying Yahoo! At an AllThingsD event Thursday, Ma said, "If the board is willing to sell, I'm interested. They've just got to let us know."
Co-founder Jerry Yang has said Yahoo! may not necessarily be up for sale. Also speaking at an AllThingsD event, Yang said, "The intent is to look at all options. There’s plenty of options for the board, and plenty of options for our shareholders to realize value."
Yang said Yahoo! has "plenty of options", and that the Board is "excited" about ongoing review.
News comes after a shakeup atop Yahoo! with the ousting of Carol Bartz over the summer. Since then, Chairman Roy Bostock has been met with criticism over his handling the situation, and even hung up a phone call with hedge fund giant Dan Loeb.
Yahoo is up 0.4 percent in just minutes after the opening bell Thursday.
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Reuters said some potential buyers are balking at Yahoo!'s "no cross talk" rule, in which bidders may not discuss with others anything about Yahoo!'s confidential financial information in order to prevent joint bids, and a potentially lower price. Some private-equity firms have become so distressed about the situation, they have refused to sign non-disclosure statements.
Reuters also noted Yahoo!'s market cap of about $20 billion might make it too big of a pill to swallow for a sole bidder, save for Microsoft (Nasdaq: MSFT).
Alibaba CEO Jack Ma reiterated his company's interest in buying Yahoo! At an AllThingsD event Thursday, Ma said, "If the board is willing to sell, I'm interested. They've just got to let us know."
Co-founder Jerry Yang has said Yahoo! may not necessarily be up for sale. Also speaking at an AllThingsD event, Yang said, "The intent is to look at all options. There’s plenty of options for the board, and plenty of options for our shareholders to realize value."
Yang said Yahoo! has "plenty of options", and that the Board is "excited" about ongoing review.
News comes after a shakeup atop Yahoo! with the ousting of Carol Bartz over the summer. Since then, Chairman Roy Bostock has been met with criticism over his handling the situation, and even hung up a phone call with hedge fund giant Dan Loeb.
Yahoo is up 0.4 percent in just minutes after the opening bell Thursday.
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