Yahoo has Extended the Deadline to Bids
Yahoo (YHOO.O) has extended the deadline for companies to bid for a week to April 18, technology news site RE / Code reported, citing people familiar with the matter.
Yahoo, whose shares were up 1.7 percent in early trading, had set an April 11 deadline for preliminary bids, which could yield a deal by June or July, the Wall Street Journal had reported.
Yahoo has launched an auction of its core Internet business, which includes search, mail and news sites, after abandoning its plan to spin-off its stake in Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N).
The company has been struggling to keep up with Alphabet Inc (GOOGLE.ON) Google unit and Facebook Inc (FB.O) in the battle for online advertisers.
Verizon Communications Inc (VZ.N) is ready to make a bid for Yahoo's Web business, and hopes to make a merger more successful by also making an offer for a stake in Yahoo Japan Corp (4689.T), Bloomberg reported on Thursday.
Google is also mulling a bid for Yahoo's core business, Bloomberg reported, citing a source.
Yahoo and activist investor Starboard Value LP pressure moves to overthrow the company's entire board of directors, including the chief executive officer under Marissa Mayer last month.
Yahoo spokeswoman Rebecca Neufeld said the company had no comment.
Yahoo's stock price since the beginning of this year rose 9 percent, to $ 36.67 up 1.4% in early trading.
Yahoo has Extended the Deadline to Bids Reviewed by Junaid on 06:44 Rating: