October 25th, Beijing Time - According to foreign media reports, stimulated by rumors that Google might contribute funds to assist other companies in acquiring Yahoo!, Yahoo!'s stock price increased by $0.59, a rise of 3.66%, closing at $16.71 on Monday local time.
The Wall Street Journal cited unnamed sources over the weekend reporting that Google is in contact with two private equity firms attempting to acquire Yahoo! to provide partial funding for their acquisition of Yahoo! However, the Wall Street Journal did not disclose which two companies Google is in contact with.
Google spokesperson Katelin Todhunter-Gerberg stated that the company would not comment on rumors and speculations. Yahoo! has not commented on this matter.
There are many companies interested in acquiring Yahoo!. Yahoo!'s board is evaluating whether selling the company or hiring a new CEO would be more beneficial. Alibaba is the only company that has publicly declared its intention to acquire Yahoo!. Other companies interested in acquiring Yahoo! include private equity firm KKR & Co., Blackstone Group, Silver Lake Partners, and Silicon Valley venture capital firm Andreessen Horowitz. There have been media reports that Microsoft is considering providing partial funding for Silver Lake's acquisition of Yahoo!.
Since dismissing former CEO Carol Bartz, acquisition rumors have cumulatively driven Yahoo!'s stock price up by nearly 30%.
Industry insiders point out that Google's dominant position in the internet search market makes it almost impossible for the company to participate in acquiring Yahoo!. Google's attempt to reach a search advertising cooperation agreement with Yahoo! was opposed by the U.S. Department of Justice, which believed it would reduce the intensity of market competition. The Wall Street Journal's report emphasized that Google may not get involved in the transaction to acquire Yahoo!.
It remains unclear whether Yahoo! will definitely sell the company. Many shareholders are dissatisfied with the continuous decline in Yahoo!'s revenue amidst the strong growth of the internet advertising market. Yahoo!'s board has not set a timetable for taking the next step.
Despite its poor financial condition, Yahoo! remains an attractive acquisition target because it has an audience of about 700 million and holds shares in Alibaba and Yahoo! Japan.
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