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Yahoo asked bidders details regarding financing, conditions or
approvals that would have to be met on their end, and what key
assumptions they would be making by deciding to move forward
with a deal, the Journal said, citing a letter sent to possible
bidders. (http://on.wsj.com/1VQGCDh)
A deadline for preliminary bids in April could mean that Yahoo
could close a deal by June or July, the Journal said.
Yahoo could not be immediately reached for a comment outside
regular business hours.
The faded Internet pioneer launched an auction of its core
business in February after it shelved plans to spin off its
stake in Chinese e-commerce giant Alibaba Group Holding Ltd <BABA.N>.
Activist hedge fund Starboard Value LP, which owns about 1.7
percent of Yahoo, launched a proxy fight last week in an attempt
to overthrow the entire board of Yahoo.
Telecommunications company Verizon Communications Inc <VZ.N> and
publisher Time Inc <TIME.N> are among companies expected to bid
for Yahoo's core business, while some private equity firms are
expected to team up to make offers.
(Reporting by Rishika Sadam in Bengaluru; Editing by Leslie
Adler)
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