Yahoo final bid deadline coming July 18: prominent investor

Final bids for Yahoo are due July 18 – a day before the troubled firm’s second-quarter earnings report is expected, a prominent Yahoo investor says.

“It may be that Yahoo management and its advisors are aware that the numbers could be highly disappointing, and have planned accordingly,” Eric Jackson, managing director of SpringOwl Asset Management wrote in The Street on Wednesday.

The third round of bidding for Yahoo was to close Wednesday, he said.

Jackson, who had penned an infamous 99-page takedown of Yahoo in December, alleging nearly $10 billion in misallocated funds, also highlighted the possibility that Japanese internet and telecommunications firm SoftBank could make a bid for Yahoo.

“There’s a big reason why SoftBank could now be an aggressive bidder for Yahoo: Nikesh Arora left the company a couple of weeks ago,” Jackson wrote of SoftBank’s former president. “Arora had been a well-known skeptic of Yahoo, and had publicly scoffed at the idea of Softbank buying Yahoo’s core business, when asked earlier this year.”

Yahoo and SoftBank each own around 35 percent of Yahoo Japan.

“It is well known that Softbank has been interested in repatriating Yahoo’s 35 percent stake in Yahoo Japan,” Jackson wrote. “Softbank may now be interested in buying Yahoo to get back that Yahoo Japan stake in one fell swoop.”

Also, SoftBank’s ownership of Sprint may add another reason for the Japanese firm to bid for Yahoo, Jackson wrote, after noting that Verizon and AT&T have been reported as suitors of Yahoo.

“If Verizon and AT&T are interested in Yahoo’s core business to offer up more web services to their mobile customers, so might Sprint be,” Jackson wrote. “Sprint may want Yahoo’s ad technology as well as the ability to stream videos to its mobile users – which Yahoo offers.”


Photo: Yahoo CEO Marissa Mayer delivers the keynote address Thursday, Feb. 18, 2016, at the Yahoo Mobile Developer Conference in San Francisco. (AP Photo/Eric Risberg)


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  • timmy2001

    I still can’t believe they paid her $42 million for being clueless.