Yahoo Strategic Review Fuels Further Buyout Speculation
Yahoo's acting leadership are now carrying out a strategic review following the firing of CEO Carol Bartz.
In an internal statement to employees, the company announced it has taken advisers Allen & Co on board as part of the review.
The move has fuelled speculations that Yahoo might be considering a partial or full sale of ownership. AOL has recently been thought of as a potential buyer but both companies have declined to publicly comment.
Written by Chairman Roy Bostock plus co-founders Jerry Yang and David Filo, the statement read: "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."
Specific details on how the process will pan out have not been released as yet, apart from the statement comment saying: "We will take the time we need to select and structure the best approach for the company, its shareholders and employees... While we will move with a sense of urgency, this process will take time... Months, not weeks. We know that's a lot of potential distraction, but we believe it will be worth the wait."