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Yahoo co-founder and former company CEO Jerry Yang recently sent out a memo to the company’s board of directors which examines various offers to buy the company. According to Silicon Alley Insider the memo was also meant to assure Yahoo employees that the company would survive.
In the leaked email Yang wrote:
“Our advisers are working with us to develop ideas that we will pursue proactively. At the same time, they are fielding inquiries from multiple parties that have already expressed interest in a number of potential options. We will take the time we need to select and structure the best approach for the company, its shareholders and employees.”
While the memo does not point at specifics of a sale analysts believe it’s a sign that Yang wants to ease tensions among employees as Yahoo prepares to sell off their business.
Yang continues:
“While we will move with a sense of urgency, this process will take time. Months, not weeks.”
Following Jerry Yang’s email company interim CEO Tim Morse sent an email of his own in which he explains the company’s plans to employees:
“I’m sure by now you’ve all seen the note from Jerry, David and Roy…I want you to know that while the board works through all of our options, CEO, staff and I have been charged to move the company forward. That means we will not be sitting still over the next few months. We are actively making decisions and taking action.”
One possible purchase could come from private equity firm Silver Lake Partners. SLP is invested in Alibaby, the Asian sales powerhouse which Yahoo owns a 43% stake in. Other sales rumors point to News Corp, Glam Media and Disney.
Do you believe a Yahoo sale is imminent?
