Software giant Microsoft is planning to bid for Yahoo as the struggling internet company prepares its books to showcase to potential buyers.
People close to the situation have told Reuters that the Windows maker has joined a long list of companies expected to put forward their bids to acquire Yahoo, which is valued at around $18 billion.
Microsoft tried to acquire Yahoo back in 2008, but the talks did not go so well. Some of the companies expected to be interested in Yahoo include equity firms Providence Equity Partners, Hellman & Friedman and Silver Lake Partners along with former Yahoo partner Alibaba and Russia’s DST Global group.
Microsoft already has a search partnership with Yahoo, in which it powers Yahoo’s internet searches via Bing while Yahoo is left free to expand its online content and cash-in on advertisements.
Yahoo’s future became uncertain after the board fired CEO Carol Bartz over the phone, after she failed to turn its fortune around. After the rumours of Microsoft entering the bid for Yahoo, Yahoo’s shares jumped 9 percent to $15.80 in afternoon trading.