Yahoo Starts Approaching Possible Bidders As Soon As Monday

(RTTNews) - Yahoo! Inc. (YHOO) will begin approaching potential corporate and private equity buyers as soon as Monday as the company seeks bidders for its core business, Bloomberg reported citing people familiar with the matter.

Companies such as Verizon Communications Inc., Comcast Corp. and AT&T Inc. are among interested parties, as well as buyout firms including Bain Capital Partners, KKR & Co. and TPG. The potential first-round bids for the business are unlikely to come in for at least a month, the report said.

On Friday, the Internet giant said its board of directors formed an independent committee to explore strategic alternatives for the company. The strategic review committee engaged Goldman Sachs & Co. Inc. (GS), JPMorgan Chase & Co. (JPM) and PJT Partners Inc. (PJT) as its financial advisors, and Cravath, Swaine & Moore LLP as its legal advisor.

The company said Friday that the strategic review committee and its advisors are reaching out with potentially interested strategic and financial parties. The committee will recommend to the company's board whether any proposed transaction is in the best interests of Yahoo! and its shareholders.