M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

Monday, April 11, 2016

The Yahoo party

Nothing happens, nothing happens, and then suddenly everything seems to be happening. Such is the story developing around the sale of Yahoo.  The biggest surprise to me at least are the most recent names of potential bidders to pop up: DailyMail.com and Elite Daily. Elite Daily tags itself, "The Voice of Generation Y". What generation is Generation Y exactly?  The Daily Mail is ... well ... let's just say one of its highlighted stories right now is Princess Kate's Marilyn Monroe moment in Delhi.  Boy, has Yahoo taken a tumble. But here's an operative question for students out there as we approach exam period.  Now that Yahoo has started a sale process, is the Yahoo board permitted to consider the fact that one of the bidding groups is an upstart internet site and the British tabloid when it is evaluating which of the various bids to take? Can it say, "We're never selling to that group, we're only selling to a real buyer like a Verizon"? So, not hiding the ball: we're in Revlon-land. Time to start thinking about how the board will maneuver its way through to sale.



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