'Multiple parties' interested in Yahoo!: memo

September 24, 2011

Yahoo! is fielding inquiries from "multiple parties" who have expressed an interest in the struggling Internet company, officials said Friday in a memo sent to employees and obtained by AFP.

The board of directors of the Sunnyvale, California-based firm is carrying out a "strategic review" in order to "help return the Company to a path of robust growth and industry-leading innovation," the memo said.

"At this point, we cannot offer many specifics about the Boards review; weve just gotten started," added the memo, written by the company's two founders, David Filo and , along with board chairman Roy Bostock.

The review was announced at the same time as the abrupt firing of chief executive earlier this month, and comes amid reports that the board is looking at selling all or part of the company.

Advisers to Yahoo! were "fielding inquiries from multiple parties that have already expressed interest in a number of potential options," the memo said.

"We will take the time we need to select and structure the best approach for the company, its shareholders and employees," it added.

The senior Yahoo! officials also told employees they were looking for a replacement for Bartz, but gave no further details about how far they had progressed in their search.

Bartz replaced Yang as two and a half years ago after he rejected a $47 billion offer from US software giant Microsoft.

She significantly cut costs at Yahoo! but was faulted by investors and analysts for failing to articulate a clear strategic vision for the company on the quickly shifting Internet landscape.

Explore further: Silver Lake, others eye Yahoo!: reports

Related Stories

Silver Lake, others eye Yahoo!: reports

September 16, 2011

Private equity firm Silver Lake Partners has approached Yahoo! about making a bid for the struggling Internet company, according to newspaper reports.

Bartz blasts Yahoo! board

September 8, 2011

Fired Yahoo! chief executive Carol Bartz has responded to her dismissal with a characteristically salty blast at the board of directors of the Internet company.

AOL shares sink amid Yahoo! merger talk

September 10, 2011

AOL shares shed five percent on Wall Street on Friday amid reports the Internet company had reached out to Yahoo! about a potential merger.

Yahoo open to Microsoft deal under right terms

May 27, 2009

(AP) -- Yahoo Inc.'s chief executive said Wednesday that she is open to joining forces with Microsoft Corp. so both companies can better compete in Internet search, but a deal would need a specific set of terms - including ...

Recommended for you

Researchers find tweeting in cities lower than expected

February 20, 2018

Studying data from Twitter, University of Illinois researchers found that less people tweet per capita from larger cities than in smaller ones, indicating an unexpected trend that has implications in understanding urban pace ...

Augmented reality takes 3-D printing to next level

February 20, 2018

Cornell researchers are taking 3-D printing and 3-D modeling to a new level by using augmented reality (AR) to allow designers to design in physical space while a robotic arm rapidly prints the work.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.