By Serena Saitto, Jeffrey McCracken and Brian Womack - Oct 29, 2011 5:15 AM GMT+0700
Yahoo! Inc. is leaning toward selling its Asian assets and redistributing the proceeds to shareholders, rather than selling itself to a group of buyers, according to five people familiar with the situation.
This scenario is emerging as the most likely option for Yahoo and would let the company eventually pay a special dividend or buy back shares, said the people, who declined to be identified because the talks are private. The stock has surged 28 percent since the company fired Chief Executive Officer Carol Bartz in early September, making it a more expensive target for private-equity buyers, the people said.
No decision has been made yet and Yahoo could still sell to a group of investors, the people said. Yahoo could also sell a minority stake in the company, or sell the entire company after finding buyers for Asian assets, said the people. A change of ownership entirely would put the tax-efficiency of the Asian asset sales at risk, one of the people said.
Dana Lengkeek, a spokeswoman for Sunnyvale, California- based Yahoo, declined to comment.
To contact the reporter on this story: Serena Saitto in New York at ssaitto@bloomberg.net
To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net
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