Shares of Yahoo Inc. rose Monday as more reports emerged that potential buyers are circling the Internet search company.
The stock rose 37 cents, or 2.4 per cent, to close at $15.84 after Reuters reported that Yahoo co-founder Jerry Yang may organize a buyout with private equity firms. And Bloomberg reported that Alibaba, China's biggest e-commerce site, has talked to Singapore's state-owned investment company, Temasek Holdings, about financing to buy out Yahoo's 40 percent stake in Alibaba.
Both news organizations cited unidentified people familiar with the situation.
Yahoo said in a statement that the “entire board, including Jerry, is fully aligned and unanimous in support of the comprehensive scope of the ongoing strategic review. As always, Jerry's singular focus remains to serve the best interests of Yahoo — its shareholders, employees, users and advertisers.”
Rumours have swirled about Yahoo's fate since the company fired CEO Carol Bartz last month. Reuters previously reported that Microsoft Corp. was considering whether to make another offer, after having its offer of $33 per share, or $47.5-billion, rebuffed in 2008. Microsoft withdrew that offer when Yang held out for more.
Despite Yahoo's cachet as one of the best-known brands on the Internet, its troubles have mounted. One problem is that while its website has a worldwide audience of nearly 800 million, users aren't sticking around as long, opting instead for longer visits at websites like Facebook.