Yahoo! (YHOO) Taps Advisors for Guidance
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Yahoo! (Nasdaq: YHOO) is kind of in a funk.
It's Board just let go of it's most recent CEO, Carol Bartz, and received a letter from hedge fund giant Dan Loeb calling for a new leadership team, more or less.
CNBC has now affirmed chatter from Thursday that Yahoo! is looking for advisors. Yahoo! has evidently sought the help of UBS (NYSE: UBS) and Allen & Co. in an effort to deliver more value to shareholders and help it navigate against calls for bloodshed at the top.
To be clear, CNBC notes the company didn't hire the advisors for advice on a possible sale; the company is simply looking for outside help to assist with any offers which might arise.
UBS has already been working with Yahoo! on a potential exit of its Yahoo! Japan stake, but no sensible deal had been reached.
Confirmation about the hiring of Allen & Co. is expected shortly, while UBS will just assume another assignment with Yahoo! Further, rumors of another advisor, possibly a big bank, have been heard.
Maybe Microsoft (Nasdaq: MSFT) should make a move on Yahoo! considering it powers search anyway? There could be some antitrust issues, but as noted earlier, bing.com and affiliates account for only 29 percent of the U.S. search market. Google (Nasdaq: GOOG) occupies 65 percent, and "other" takes about 6 percent.
Yahoo! is trading flat early Friday morning.
It's Board just let go of it's most recent CEO, Carol Bartz, and received a letter from hedge fund giant Dan Loeb calling for a new leadership team, more or less.
CNBC has now affirmed chatter from Thursday that Yahoo! is looking for advisors. Yahoo! has evidently sought the help of UBS (NYSE: UBS) and Allen & Co. in an effort to deliver more value to shareholders and help it navigate against calls for bloodshed at the top.
To be clear, CNBC notes the company didn't hire the advisors for advice on a possible sale; the company is simply looking for outside help to assist with any offers which might arise.
UBS has already been working with Yahoo! on a potential exit of its Yahoo! Japan stake, but no sensible deal had been reached.
Confirmation about the hiring of Allen & Co. is expected shortly, while UBS will just assume another assignment with Yahoo! Further, rumors of another advisor, possibly a big bank, have been heard.
Maybe Microsoft (Nasdaq: MSFT) should make a move on Yahoo! considering it powers search anyway? There could be some antitrust issues, but as noted earlier, bing.com and affiliates account for only 29 percent of the U.S. search market. Google (Nasdaq: GOOG) occupies 65 percent, and "other" takes about 6 percent.
Yahoo! is trading flat early Friday morning.
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