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Daily Mail owner considering Yahoo bid | Daily Mail owner considering Yahoo bid |
(35 minutes later) | |
The owner of the Daily Mail newspaper is considering a bid for the struggling US internet company Yahoo. | The owner of the Daily Mail newspaper is considering a bid for the struggling US internet company Yahoo. |
A spokesman told the AP news agency that discussions were "at a very early stage" and there was no certainty a deal would take place. | A spokesman told the AP news agency that 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. | 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. | 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 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 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. | The Wall Street Journal, citing people familiar with the matter, said that the potential bid could take two forms. |
Deadline | |
In one scenario, a private-equity partner would acquire Yahoo's core web business with the Mail taking over the news and media properties. | In one scenario, a private-equity partner would acquire Yahoo's core web business with the Mail taking over the news and media properties. |
In another scenario, the private-equity firm would acquire Yahoo's core web business and merge its media and news properties with the Mail's online operations. | In another scenario, the private-equity firm would acquire Yahoo's core web business and merge its media and news properties with the Mail's online operations. |
Yahoo has set a deadline for 18 April for interested parties to submit their offers. | Yahoo has set a deadline for 18 April for interested parties to submit their offers. |
Time Inc is also reported to be weighing a bid together with a private equity firm. | Time Inc is also reported to be weighing a bid together with a private equity firm. |
Earlier this year, Yahoo said it would cut 15% of its workforce as part of chief executive Marissa Mayer's " aggressive" plan to return the company to profit. | |
The company has struggled to compete against rivals such as Google and Facebook. | |
Its shares have fallen around 30% since the end of 2014. |