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Yahoo Prolongs the Deadline for Bids by a Week

Yahoo Inc. extended its the deadline to bid for its businesses by a week to from 11th April to 18th April, reported the technology news website Re/code, citing the people who are familiar with the matter.

Yahoo, whose shares were up 1.4% in the premarket trading, had set the deadline of 11th April for the preliminary bids that could yield a deal by June or July, reported the Wall Street Journal.

Yahoo had launched an mart of its core Internet business that includes mail, news site and search after abandoning its plan to spin-off its stake in Alibaba Group Holding Ltd, the Chinese e-commerce giant

The company, Yahoo has been trying to keep up with Facebook Inc. & Alphabet Inc’s Google unit in the combat for the online advertisers.

Verizon Communications Inc. is ready to make a bid for Yahoo’s Web business, and is hopeful to make a merger more fruitful by also making an offer for stake in Yahoo Japan Corp, reported Bloomberg on Thursday.

Google is also considering a bid for Yahoo’s core business, reported Bloomberg while citing the sources.

However, Kara Swisher of Re/code’s had stated that a Google bid was “highly unlikely.”

Yahoo is also under stress from the activist investor Starboard Value LP that moved to overthrow the entire board of company, including the company’s CEO, Marissa Mayer, last month.

Starboard has been forceful for changes at Yahoo since year 2014.

Yahoo didn’t immediately respond to request for a comment.

Up to Thursday’s close of 36.17 dollars, Yahoo’s shares had increased about 9% since beginning of the year.