Verizon to Bid $3 Billion for Yahoo’s Web Assets
“The Wall Street Journal reported that Verizon and other potential suitors were expected to bid about $2 billion to $3 billion in the second round. That range is lower than the price Yahoo’s web properties were expected to fetch as recently as April, when people close to the process said Yahoo’s core business likely would go for between $4 billion and $8 billion.
“Some bidders were less enthusiastic about doing a deal after last month’s sale presentations by Yahoo Chief Executive Marissa Mayer at the company’s Sunnyvale, Calif., headquarters, according to people who attended the meetings. Those presentations revealed the extent to which Yahoo’s online advertising business is declining, the people said.”
Verizon Communications on Monday planned to submit a second-round bid of around $3 billion for Yahoo’s core internet business, a person familiar with the matter said.
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