After meeting on Friday to discuss second-round bids for the company’s assets, Yahoo’s board of directors has decided to invite Verizon, AT&T, and a group of investors led by Quicken Loans founder Dan Gilbert to submit final-round offers, Reuters reports. Other investor groups, who brought cash and a simulacrum of competition to the process–but provided little in the way of strategic value–have lost their seats at the negotiating table.
Last week, according to CNBC, second-round bids came in ranging from $3.5 billion to over $5 billion. However, it remains unclear which prospective buyers are vying for Yahoo’s real estate properties and patents in addition to the company’s digital media assets.
Final-round bids are due in early July, sources say. AH