Finance

Yahoo Extends Bid Deadline to April 18

Extra week allows more bidders to enter the fray 4/11/2016 10:30 AM Eastern

Yahoo has reportedly extended the deadline for companies to submit bids for its Internet assets one week to April 18.

 

Yahoo had originally set the deadline for the first round of bids at April 11, but extended it to allow other bidders into the mix. At least one new bidder has entered the fray – the U.K’s Daily Mail & General Trust, parent of British newspaper the Daily Mail – which according to reports is considering a bid.

 

Verizon Communications is expected to make a bid in the first round, as are private equity players like Bain Capital, TPG and Blackstone Group. Other potential bidders include Tine Inc., SoftBank (parent of Sprint), Google and Chinese ecommerce company Alibaba.

 

Yahoo decided to put its Internet business up for sale in February after the company shelved plans to spin it off as a separate company. The search engine pioneer is reportedly looking for $10 billion for the assets.    

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