Alphabet Inc (NASDAQ:GOOG)’s Google is apparently thinking of making a bid for the struggling tech company Yahoo! Inc.’s core business, according to a report from Bloomberg, which cited a source.
Google the most used search engine in the world right now and whose parent company is the most valuable company in the world right now, Alphabet, are thinking of taking the Yahoo business and strengthening their field.
Other companies were also reported to be interested in the beleaguered tech company Yahoo!. Verizon Communications was rumored to be considering a first-round bid for the enterprise. They have been rumored to be one of the companies in line to buy Yahoo’s core business. Verizon Communications was rumored to be thinking of making the bid next week; Bloomberg reports also citing sources which are closer to the matter at hand. At closing day yesterday, Yahoo’s shares went down 1 percent, and Verizon shares were down 3 percent.
Other companies rumored to be on the hunt of the once popular Internet business include AT&T Inc, Comcast Corp and Microsoft Corp, but reports suggest that these businesses may not bid around this time. Time Inc was also rumored to be aiming towards a bid, and other businesses such as Bain and TPG, are also thinking of making an effort either directly or indirectly.
Yahoo! is trying to sell its core business because of bad results in the market and below performances. The company launched an auction of its core business in February. The company also initially wanted to spin off its stake in Alibaba Group Holding Ltd, the Chinese e-commerce giant.
Verizon is said to be working with at least three financial advisers about the Yahoo bid. So many people on a project show how serious the company is taking this venture, and since late last year, the company noted its intentions to buy the stake in Yahoo!.
When contacted for comment, the two companies Verizon and Yahoo all declined to comment. Other involved companies on the issue, Google, AT&T, Comcast and Microsoft also refused to comment.
