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Yahoo turned down numerous acquisition offers this month

Most people have lost all hope that Yahoo will be able to turn things around, including many of its own employees, but it looks like the company still has no intention of selling off its assets. Sure, it’s willing to lay off about 10% of its workforce, but according to Reuters, the company is so adamant on retaining its core Internet assets that it rebuffed numerous acquisition offers from unknown buyers this month. Apparently, it has another plan to turn things around, and it wants to gauge the reaction of shareholders during its quarterly earnings conference call on February 2nd. I’m sure if Yahoo really wanted to make its shareholders happy, it’d consider replacing Marissa Meyer as CEO.

Yahoo Inc will decide on its next strategic steps only after releasing quarterly earnings on Feb. 2, people familiar with the matter said, as the company continues to resist investor calls to explore a sale of its core Internet assets. Yahoo wants to gauge shareholder reaction after presenting its strategic vision during the earnings conference call, one of the people said. Yahoo this month rebuffed several potential buyers for its core Internet assets, including private equity firms, the three sources said this week. They declined to be identified because the deliberations are confidential. Yahoo declined to comment. Yahoo said last month it would pursue a tax-free spinoff of the core Internet business, which could take at least a year. But investors are pressing for an outright sale, fearing that the business, which includes selling search and display ads on its news and sports sites and email service, could lose more value in the face of competition from Alphabet Inc’s Google and Facebook Inc. Yahoo’s resistance to the outright sale has set it on a collision course with activist investor Starboard Value LP, which earlier this month reiterated its call for the company to auction off the core business.

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