Printed from http://www.electronista.com

Yahoo hiring Goldman to fend off possible AOL bid?

updated 05:05 pm EDT, Thu October 14, 2010

Yahoo looks to Goldman against takeover bids?

Yahoo will work with Goldman Sachs to help it defend a takeover bid, unnamed sources said in a Bloomberg Thursday report. While no bids have yet been made, AOL has been rumored to be putting together an offer. Private equity firms, bankers and some Yahoo investors have also been trying to takeover Yahoo with the help of AOL of News Corp, the sources said.

Such a takeover would help the company focus on a media company and be better able to compete with giant Google.

Yahoo is also concerned interest is driven by its 39 percent of stake in Alibaba Group Holding, worth about $10 billion. Alibaba is China's biggest e-commerce company, and recently offered to buy back its stake but the talks fell apart in June. Alibaba, like Yahoo, is dropping Yahoo's native engine in favor of Microsoft's Bing search. Alibaba sold its stake in 2005 for $1 billion and ownership of Yahoo's Chinese unit. The agreement allowed Alibaba to buy back its stake Yahoo were to be taken over.

If AOL seeks to buy out Yahoo, it would need private-equity funding unless it negotiated a reverse merger that involves managerial control, an analyst indicated. Silver Lake has been unofficially linked to the deal and may be working with AOL.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Lemur BlueDriver

"Oh no, the check engine light is on…again! What one of the hundreds of reasons could it be this time? Probably going to cost a fort ...

Sponsor

toggle

Most Commented

 
toggle

Popular News