11 April, 2016, USA: It seems like Yahoo has become the most preferred hunting ground for bidders and after Microsoft, Verizon and Google, it is Daily Mail newspaper who has shown interest in bidding for Yahoo. A spokesperson informed, “Discussions were at a very early stage and there was no certainty a deal would take place.”
The Wall Street Journal, where it was first reported, said the Daily Mail and General Trust (DMGT) was in talks with private equity firms about an offer.
Yahoo is under pressure from shareholders to turn itself around. The activist hedge fund investor Starboard Value recently called for the replacement of the entire board at the loss-making company. The spokesman for the Daily Mail owner said “it has been in discussions with a number of parties who are potential bidders”. The Wall Street Journal, citing people familiar with the matter, said that the potential bid could take two forms, reported BBC.
However, the company has already declared 18 April as the deadline for bidders to submit their bids. The Daily Mail has submitted two offers- In one offer; a private-equity partner would acquire Yahoo’s core web business with the Mail taking over the news and media properties. In another one, the private-equity firm would acquire Yahoo’s core web business and merge its media and news properties with the Mail’s online operations.