Yahoo Hires Goldman Sachs to Deal With Takeover Bids

Yahoo (YHOO) has hired Goldman Sachs Group (GS) to help deal with possible takeover approaches, Bloomberg News reported.

Yahoo has been working with advisers for about two weeks, but has not received any offers, Bloomberg News said.

Sponsored Links

AOL (AOL), DailyFinance's parent company, has discussed a possible bid for Yahoo with private equity firms, according to reports.

In February 2008, Microsoft (MSFT) bid almost $50 billion for Yahoo, only to withdraw the offer three months later. The company's stock has fallen almost 50% since then, leading to speculation that it is vulnerable to takeover bids.

Yahoo is "perhaps more valuable to a financial buyer able to unlock the value of the assets in a private setting," Youssef Squali, an analyst with Jefferies & Co, told Bloomberg News.

AOL, Yahoo and Goldman Sachs all declined to comment to Bloomberg News.

The takeover reports sent Yahoo shares surging as much as 8% in early trading.