Recent Yahoo sale news revealed that the company is now serious about a sale. Bids are now being accepted.
The Wall Street Journal reported that the company is now accepting bids from potential buyers. Purchasers are given until Apr. 11 to submit their bids for Yahoo's core business and stakes in Japan as well as Alibaba Group Holding.
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.
The publication noted that the Yahoo sale news came a week after Starboard Value made the announcement about replacing the company's entire board members with its own directors. Apparently, the Yahoo board has not shown the urgency to complete the sale.
However, if the board can prove that they can see the Yahoo sale to its completion, they may be able to keep their jobs in the company. It was also said that chief executive Marissa Mayer, who got the role in Jul. 2012, has had difficulty in sharpening the company's strategic focus and reverse its worsening financial trajectory.
According to Engadget, AT&T, Verizon and Comcast are believed to be on the shortlist. It was noted that the company has shown interest in financing bids by private equity firms.
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. This caused potential users to go to alternatives created by Google, Microsoft and other startups.
The San Francisco Chronicle reported that the Yahoo sale price may be turning away potential buyers. There are speculations that the company wants $10 billion, when it's worth is just around $6 to 8 billion.
"Not one of them is interested in buying the company alone," a source said. "They think it's overpriced."