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Verizon to Proceed With Yahoo Bid, Google Weighs Offer

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Verizon Said to Proceed With Yahoo Bid

Verizon Communications Inc. plans to make a first-round bid for Yahoo Inc.’s Web business next week, and is willing to acquire the company’s Yahoo Japan Corp. stake to help sweeten the offer, according to people familiar with the matter.

Google, the main division of Alphabet Inc., is also considering bidding for Yahoo’s core business, a separate person said.

Potential suitors AT&T Inc. and Comcast have decided against bidding, some of the people said, asking not to be identified as the discussions aren’t public. Microsoft Corp., which failed with a hostile bid for Yahoo in 2008, won’t bid this time, another person said.

Time Inc. is still evaluating a bid, while private equity funds Bain and TPG -- among others -- are also planning to make a run at the business, either alone or by backing a strategic acquirer, the people said.

While the buyout firms haven’t yet paired themselves with a strategic buyer, they are open to the idea of doing so, the people said.

First-round bids for the company’s main Web assets are due April 11, a person with knowledge of the matter said last week. Yahoo shares fell about 1 percent to $36.32 as of 3:16 p.m. in New York...


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