Sun, Mar 27, 2016 - Page 13 News List

Microsoft said to meet with possible bidders for Yahoo

Bloomberg

Microsoft Corp met with possible bidders for Yahoo Inc such as Verizon Communications Inc and private equity firms, who might seek backing from the software maker for their offers, a person familiar with the meetings said.

The meetings were initiated by the bidders and Microsoft has not committed any funding, said the person, who wanted to be anonymous because the meetings were private.

Additionally, the company is unlikely to provide anything more than a token investment to anyone, the person said.

Yahoo last month said it hired financial advisers and told independent board members to explore its strategic options, taking steps to transform itself and consider deals amid rising pressure from investors.

Companies such as Verizon, Comcast Corp and AT&T Inc are among those interested in acquiring Yahoo’s core business, while Bain Capital Partners, KKR & Co and TPG Capital are among the buyout firms that have shown interest, people familiar with the matter have said.

Microsoft, which has a search partnership with Yahoo, told bidders it is eager to continue working with the company whoever owns it, the person said.

Microsoft told the various bidders it was willing to hear their ideas as they continue to consider bids.

Microsoft has previously provided US$2 billion in financing for Silver Lake Management LLC and Michael Dell’s takeover of Dell Inc, but will not do anything of that scope here, the person said.

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