Verizon Is Still Reportedly in the Running as a Top Bidder for Yahoo
Yahoo’s core business secured five bidders in the final round including, Verizon Communications (VZ), Quicken Loans founder Dan Gilbert, and Vector Capital Management, Bloomberg reported on Tuesday, citing people familiar with the matter.
The other bidders are AT&T (T) and private equity suitor TPG, Bloomberg reported, citing a source.
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Yahoo (YHOO), which is in the process of auctioning off its search and advertising business, said on Monday its board had made “great progress on strategic alternatives” but did not comment further on the auction process. The company is expected to choose a winner this week.
For more, read: Yahoo’s Never-Ending Sale Process Is Hurting Its Business
The company also reported quarterly earnings that fell short of Wall Street expectations in what may be its last financial report before it sells its core business.
Why Someone Would Want to Buy Yahoo:
Yahoo declined to comment on the article.