Verizon Preparing Bid for Yahoo (Report)
Verizon has been beefing up its Internet presence, perhaps most notably with its $4.4 billion acquisition of AOL a year ago.
Verizon is preparing an offer to acquire Yahoo that it could present to the pioneering Internet company next week, Bloomberg reported Thursday.
Meanwhile, Google could bid on some of Yahoo's assets, though it isn't interested in an acquisition of the entire company, according to published accounts.
Verizon, on the other hand, is interested in the entirety of Yahoo, including its $8.6 billion stake in Yahoo Japan.
After 18 months watching its stock sink and under pressure from large investors, Yahoo announced in February that it was seeking strategic alternatives, and it was immediately presumed on Wall Street that Verizon was a potential bidder for the company.
Verizon has been beefing up its Internet presence lately, perhaps most notably with its $4.4 billion acquisition of AOL a year ago.
Time Inc., which has been separated from Time Warner, might also submit a bid for Yahoo, as might private equity firms TPG and Bain. Other potential suitors are Microsoft, AT&T and Comcast, but Bloomberg and others reported that, after kicking the tires, all three have decided against bidding.
AT&T declined to comment on the report.
On Thursday, shares of Yahoo fell 1 percent to $36.17, leaving the company with a market capitalization of $34.3 billion.