PE firm eyes buyout for Yahoo’s U
NEW YORK (Reuters) Thomas H. operations of Yahoo Inc, breaking away from other bidders that are for now eyeing either a minority stake or teaming canada goose store up with the Internet giant partners in Asia, sources familiar with the matter said.
The Yahoo! offices buy canada goose jacket cheap are pictured in Santa canada goose uk black friday Monica, California April 18, 2011. business which could be worth $5 billion to $6 billion and draw on its experience running other media Canada Goose Coats canadagooseparks On Sale assets such as Nielsen Co, Clear Channel and Univision to turn around the ailing company, the Canada Goose Jackets sources canada goose black friday sale said.
In taking this approach, THL is charting a different path than other private Canada Goose sale equity firms such as Silver Lake, KKR and TPG, canada goose factory sale which are expected to put in Canada Goose online bids Canada Goose Online for a stake cheap Canada Goose of up to 20 percent in the company on Monday, sources said.
Microsoft Corp is helping to finance a possible Silver Lake canada goose uk outlet investment in Yahoo, which has a market value of about $19 billion, the sources said.
Yahoo board is expected to meet on Tuesday to assess the possibility of a minority investment, the sources said.
Another group of Canada Goose Outlet firms, including Blackstone Group, Bain Capital and Hellman Friedman, cheap canada goose uk is in talks to team up with China Alibaba Group and Japan Softbank Corp, the sources said.
Any deal canada goose coats on sale for Yahoo canada goose clearance is still some time away. But THL interest uk canada goose outlet adds yet another twist in the behind the scenes maneuvering as bidders jockey for the best position to eventually forge a deal for Yahoo, betting they can canada goose uk shop turn around the company fortunes with better management.
The Internet pioneer has seen growth stagnate in recent years due to competition from the likes goose outlet of Google Inc and Facebook, and is currently without a permanent CEO as Canada Goose Parka it tries to regain relevance in the new dot com era.
Yahoo board fired CEO Carol Bartz in September and started the strategic review, which has been complicated by the different agendas of players with a say in the situation, including its Asian partners, co founders Jerry Yang uk canada goose and David Filo, the board and shareholders.
Yahoo, THL, Microsoft, Blackstone, KKR and Silver Lake declined to comment. The other private equity firms were not immediately available for comment.
PIPE DEAL Several other parties including THL are expected to sign confidentiality agreements later this week which would give them access to Yahoo financial information, the sources said.
TPG, KKR, Silver canadian goose jacket Lake and Microsoft have already signed confidentiality agreements with Yahoo over the last few weeks allowing them to prepare offers for a minority investment in Yahoo.
Their investment canada goose coats could come in the form of a private investment in public equity (PIPE) transaction. PIPE investors typically get stock at a discount to the public buy canada goose jacket market valuation, so price could prove to be a sticking point in a deal, especially when the board might have other options before it, the sources said.
The board going to make decisions on how to pursue a PIPE deal, one of the sources said, adding that the company and the suitors had different value expectations.
Keeping the initial investment below 20 percent would allow Yahoo to avoid putting the proposal up for a shareholder vote. has to decide whether they need to cram it down canada goose clearance sale shareholders throats, the source said.
Several private equity firms are taking the minority investment route canada goose with the idea that they could then team up with Yang and Filo, who together own another 9.5 percent of the Internet company, Reuters has previously reported.
That combined stake could further be raised by a large share buyback financed with debt, giving the owners a blocking position in the company and giving them a prime spot for a leveraged buyout sometime in the future.
Reporting by Nadia Damouni; Additional reporting by Greg Roumeliotis; Editing by Paritosh Bansal, Gary Hill.