Yahoo sets 11 April deadline for interested buyers
Yahoo has set a deadline of 11 April for potential suitors to table a bid for the troubled web giant, according to The Wall Street Journal, amid rumours that fellow digital giants such as Microsoft are also interested in taking it over.
Companies interested in tabling an offer have until 11 April to formally place preliminary offers for its core web business as well as its interests in Yahoo Japan, and Alibaba Group Holdings, with those interested in the outfit asked to provide details on financing, etc., according to the report.
Yahoo has sent out letters to potential suitors asking them to state which parts of the business they may be interested in, with approximately 40 companies signing non-disclosure agreements over potential bids, according to reports.
A number of potential suitors have been named in recent months, with US telecoms operator Verizon Wireless (which itself paid over $4bn for AOL midway through last year), and a host of private equity firms all touted as potential bidders.
The latest speculation comes after earlier reports claimed Microsoft is in talks with private equity firms to partly finance such a takeover, with Reuters citing sources close to the negotiations, additionally asserting that negotiations were centred on preserving the existing search and advertising agreements between the pair.