Summary: The news that Silver Lake plans to join Microsoft and other acquisitions Yahoo 20% Equity (Tencent Science and Technology with map) Beijing time November 29 news, according to the New York Times Network version of the report, people familiar with the Silver, a private equity company in Silver Lake, and Microsoft led the investment
News says Silver Lake plans to join Microsoft and so on to buy Yahoo 20% stake (Tencent Science and technology with map)
Beijing Time November 29 news, according to the New York Times Network version of the report, people familiar with the matter, a private equity company in Silver Lake (Silver) and Microsoft-led investment consortium, is considering the acquisition of a maximum of 20% of Yahoo's stake. TPG Capital, another private-equity firm, also plans to submit a similar letter of intent to Yahoo.
Yahoo's financial advisor Allen & Company and Goldman Sachs have decided to make a final decision on the sale of a small stake in Yahoo on Monday (US local time), the company's board is expected to discuss this week, people familiar with the matter said. Representatives of Silver Lake, Microsoft, Yahoo and German investment declined to comment on the rumours.
For now, Yahoo is less inclined to sell its assets as a whole. In the past few weeks, Yahoo board members and financial advisers have tended to introduce an investor willing to buy a 20% stake in Yahoo. Yahoo will use the new money to buy back shares and other activities. Yahoo co-founder Jerry Yang and David Ferrow (David Filo) have a stake of nearly 10% per cent, and if a new investor buys a 20% stake in Yahoo, it means the investor will become the main shareholder.
However, a person familiar with the matter said that Yahoo's board would still consider an outside agency that would buy all of Yahoo's assets.
The investment consortium led by Silver Lake also includes Anderson Horowitz (Andreessen Horowitz) venture capital company. The investment consortium has considered acquiring all of Yahoo's assets, but has recently shifted to considering a partial stake in Yahoo. Investors who intend to buy some of Yahoo's stake in the next few days will submit a detailed purchase letter of intent to Yahoo, according to people familiar with the matter.
New CEO question
Another big issue that Yahoo still needs to address is the appointment of the company's new CEO. In early September this year, Yahoo's board issued a dismissal order for former CEO Bartz Carol Bartz. Since then, Yahoo's day-to-day operations have been the responsibility of the interim CEO Timothy Morse (Timothy Morse). But Yahoo's board has hired a search company to seek a new CEO.
Three people familiar with the matter said that in the past few weeks, Silver Lake led the investment consortium has held talks with Yahoo, the content of the talks is to let Anderson Horowitz Fund co-founder Anderson (Marc Andreessen) as Yahoo Director.
People familiar with the matter also revealed that private-equity firms such as Yahoo's largest partner Alibaba Group, Blackstone Group, were negotiating to jointly acquire all of Yahoo's assets. Yahoo now holds about 40% stake in Alibaba. Although Alibaba has indicated its intention to repurchase shares from Yahoo, two companies are not holding talks, a person familiar with the matter said.
Some Yahoo's existing shareholders are sceptical about Yahoo's plans to introduce new investors. Earlier this month, Daniel Loeb, the head of Yahoo Investor and US investment company Third Point, sent a letter to Yahoo's board Daniel Le Boux that he was worried about Yahoo's so-called "leveraged recapitalisation" (leveraged recap) programme. He also asked Jerry Yang to resign as Yahoo's director and hinted at the possibility of asking other Yahoo directors to resign.
Some Yahoo shareholders, including Third Point, believe that Yahoo's board should consider a plan to sell its assets as a whole.