Yahoo’s struggles to keep its head above the water might soon be the last it can make. The huge web presence it once commanded with a global audience allowed it to build a relatively profitable and growing business, but it could not sustain the magnificence for long. Now for some time several big boys like Microsoft and Silver Lake Partners have been eyeing Yahoo!
In February 2008, Microsoft attempted to buy the US web giant for $44.6 billion, but Yahoo! rejected the even higher offer price of $33 per share. Along, with Silver Lake Partners and Microsoft, the Canada Pension Plan Investment Board, and venture capital firm Andreesson Horowitz also wanted to acquire as much as 15% of Yahoo!
What has truly hogged news headlines is Alibaba wanting to take over Yahoo! The former, a Chinese firm, is owned 43% by Yahoo! and is considered one of its greatest assets. Alibaba Group Chairman, Jack Ma, and Yahoo! co-founder Jerry Yang are known to be good friends. However, Ma feels the company has surpassed and outgrown its US partner.
Alibaba has repeatedly been trying to buy out the 40% of its share that Yahoo! currently owns and has been ready for quite some time for taking over Yahoo! with its financing all sorted. Now Alibaba is leading an investment group and together they are going for all of Yahoo! Says Ma, that they are waiting for a “friendly bid” rather than an aggressive takeover.
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