Reports: Blackstone, Bain mulling joint Yahoo bid
The Blackstone Group and Bain Capital are discussing whether to team up with two major Asia companies in a bid to buy Yahoo for more than $25 billion.
The possibility was floated late Wednesday in media reports that quoted unnamed people familiar with the matter.
Both Reuters and Bloomberg News said Blackstone and Bain Capital could bid more than $20 per share if they pursue a joint bid with China's Alibaba Group and Japan's Softbank Corp. Yahoo shares surged more than 6 percent to $16.72 in extended trading.
It's the latest speculation to surface about Yahoo's fate since the Internet company fired Carol Bartz as its CEO in early September. Yahoo's board has been reviewing a possible sale or part of the company since then.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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