Yahoo Readies Itself For Potential Buyers
Several companies, including Microsoft and Chinese e-commerce company Alibaba, are said to be interested in buying the struggling Internet giant.
Yahoo Inc., the struggling Internet giant, has brought in advisers Goldman Sachs Group and Allen & Co. to help conduct a long-term "strategic review" and prepare its financial information for potential buyers.
Reuters reports the company could be close to putting itself up for sale, though all parties have declined comment. A memo from Yahoo executives to employees last month said the company was "fielding inquiries from multiple parties that have already expressed interest in a number of potential options."
Among the potential buyers for the company is Microsoft, which has been reportedly mulling a bid. The company had previously attempted to take over Yahoo in 2008, but that was unsuccessful. Yahoo shares had risen 8.7 percent by afternoon on Wednesday on reports that Microsoft was thinking about buying.
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Other interested parties include Providence Equity Partners, Hellman & Friedman and Silver Lake Partners.
Jack Ma, the founder and CEO of Chinese e-commerce company Alibaba, has also expressed interest in buying Yahoo, telling an audience at Stanford University that he was "very interested."
However, the company which is valued at about $18 billion, is expected to take months to decide its future.