Berkshire Hathaway’s Warren Buffett is backing a consortium that is bidding for Yahoo’s Internet assets, according to a news report. Reuters is reporting that Buffet, on behalf of the investment group, has pledged his wealth to a potential bid. There has been a raft of interest for the company, with about 10 potential takeovers on […]
Berkshire Hathaway’s Warren Buffett is backing a consortium that is bidding for Yahoo’s Internet assets, according to a news report.
Reuters is reporting that Buffet, on behalf of the investment group, has pledged his wealth to a potential bid.
There has been a raft of interest for the company, with about 10 potential takeovers on the horizon.
Reuters also cites anonymous sources that Quicken Loans founder Dan Gilbert is part of the group.
The consortium is reportedly in the second round of talks for the Silicon Valley company’s assets. Quicken Loans’ involvement is unclear.
The list of parties interested in buying Yahoo, whose business has been declining despite CEO Marissa Mayer’s four-year turnaround effort, has included a wide range of players. Verizon has emerged as a frontrunner, according to multiple reports.
The telecom giant, which acquired AOL for $4.4 billion last year, is looking to build a bigger online advertising business.
