Recent Verizon strike 2016 news confirmed that the telecommunications company will push through with its Yahoo sale bid. This comes amidst its workforce issue.
Re/code reported that the second round of bidders in the Yahoo sale have already started holding all-day meetings with the Internet giant's top management, including Marissa Mayer. Sources revealed that the meetings have taken place over the past weeks and will continue this week.
Moreover, the insiders added that Mayer's initial resistance has disappeared. She is also said to be actively participating in the Yahoo sale meetings.
"She is the one in clear charge of the sale now, if you judge by the new presentations," a source said. "It's her show."
The second round of bidding is "expected to come around June." Verizon, TPG as well as a combination of Bain Capital and Vista Equity Partners are the companies vying for the Yahoo sale.
According to CNN, Verizon has previously shown its interest in acquiring Internet companies. Last year, it bought AOL for $4.4 billion as well as ad tech firm Millennial Media for about $250 million.
"Yahoo isn't the company that it once was, but there are still some valuable pieces," Mark Rogers, founder and CEO of BoardProspects.com, said. "Verizon buying it does make sense."
Eric Jackson, the managing director of SpringOwl Asset Management, has shared his thoughts on Verizon's bid in the Yahoo sale. "As a Yahoo shareholder, I am most interested in a Verizon bid," he said. "I think they will be able to pay the most for the core business."
CNBC noted that Verizon's bid received a boost after several potential bidders backed out from the Yahoo sale race. TIME, Alphabet, Comcast and AT&T did not submit their bids for the company's core businesses.
The telecommunication company's came amidst the Verizon strike 2016 issue. The protests began last Apr. 13. Workers rejected the offer and continue their fight for a better contract.
