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Report: Yahoo sets deadline for preliminary bids

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Report: Yahoo sets deadline for preliminary bids

Yahoo!Inc. has set an April 11 deadline for interested parties tosubmit preliminarybids for its core Web business and Asian assets, The Wall Street Journal reported March 28, citing sources withknowledge of the details.

Yahoo advisers reportedly sent letters to potential biddersin recent days, asking them to send proposals for their offers, with informationsuch as the assets they would like to acquire and at what price. Some buyerscould be interested in acquiring Yahoo's core Web business, or parts of it,while others could make a play for stakes in Alibaba Group Holding Ltd. or Yahoo Japan.

Yahoo's bankers have reportedly approached companies such asVerizon CommunicationsInc., IAC/InterActiveCorp and Time Inc., as well as private-equity firms TPG and KKR& Co.

With the process in the early stages, Yahoo will look to veta group of about 40 companies that have signed nondisclosure agreements inrecent weeks, according to the report.