Yahoo appears ready to talk about sale, sends confidentiality agreements
In what could be a signifcant moment for the digital world, Business Insider has indicated that Yahoo, long-insisting they weren’t for sale, may now be in play. According to sources, Yahoo has sent confidentiality agreements to a list of interested buyers. The CTFN report mentioned did not indicate the suitors but media reports have placed Verizon, private-equity firm Bain Capital and KKR on the list.
Yahoo, per the report, would have a traditional auction as opposed to engaging in direct, individual talks with possible buyers.
Verizon is most notable as their CEO, Lowell McAdam, expressed public interest in buying the company. Bloomberg reported that, in early February, AOL CEO Tim Armstrong was going to informally reach out to Yahoo on behalf of Verizon to discuss a possible sale. Verizon is AOL’s parent company.
At that time, McAdam may have tipped his hand to CNBC’s Jim Cramer on Mad Money by saying “We have to understand the trends. But then at the right price, I think marrying up some of their assets with AOL and the leadership would be good.”
We’ll continue to follow and update this emerging story as new news surfaces.
Source: Business Insider