Andre Yoskowitz
22 May 2016 11:32
The story for Yahoo gets sadder and sadder.
According to the WSJ, Verizon and other bidders for Yahoo are expected to bid under $3 billion for the core assets of the once tech giant, much lower than Yahoo CEO Marissa Mayer's initial hopes for up to $10 billion.
Verizon is the front-runner in the bidding process, although a number of private-equity buyers are said to be interested, including Warren Buffet and Dan Gilbert.
Yahoo has set a deadline for the first week of June for the upcoming round of bids, and it could end up being the final round if the deals are sweet enough. Regardless, the buyer of Yahoo is buying a business in decline, with revenue and profits falling quarter after quarter with no end in sight. In fact, quarterly revenue fell below $1 billion for the first time since 2011 in the most recent quarter.
Source:
WSJ