Apr 11, 2016 01:13 AM EDT

Yahoo Sale News: Company Extends Deadline; Verizon Proceeding With Bid

Recent Yahoo sale news has revealed that the company has moved its deadline for initial bids. The website will continue to accept offers until Apr. 18.

Re/code reported that sources close to the situation as well as the bankers involved in the Yahoo sale have confirmed that the deadline for the bids has been extended for another week. There have been several companies that are said to be interested with the Internet giant.

According to WSJ, via Reuters, the Yahoo sale could result to a deal being completed by June or July this year. The company's shares went up to about 1.7 percent in early trading.

Previous Yahoo sale news claimed that those who want to participate in the Yahoo sale are required to provide information on financing, conditions for approval as well as assumptions. Plans to separate the core business from its Asian assets also need to be laid out as well.

AT&T, Verizon and Comcast are believed to be on the shortlist. The company has been struggling with one of its core businesses involving ad placement in Yahoo News, Mail and Search. Its mobile apps were also unable to achieve the desired success.

Meanwhile, Bloomberg reported that Verizon Communications Inc. will be making their first-round bid for the Yahoo sale by next week. It was noted that the company also wants to acquire the company's Yahoo Japan Corp. stake.

Furthermore, Alphabet Inc.'s main division, Google, is believed to be considering a bid for Yahoo's core business. AT&T Inc. and Comcast are said to have decided against bidding as well as Microsoft Corp., which lost a bid for the company in 2008.

The publication added that Time Inc. is still in the evaluation stage while private equity funds companies such as Bain and TPG are believed to have plans to make a run at the business. "While the buyout firms haven't yet paired themselves with a strategic buyer, they are open to the idea of doing so," sources told Bloomberg.

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