19 Sep '12, 7pm

Yahoo Shareholders to Get $3.65 Billion as Alibaba Completes $7.6 Billion Buyback

Yahoo Shareholders to Get $3.65 Billion as Alibaba Completes $7.6 Billion Buyback

Alibaba, China’s e-commerce giant, has announced the successful buyback of half of Yahoo’s assets in their company, in a deal worth approximately $7.6 billion. "The Yahoo! board and management have met, reviewed the strategy with regard to the proceeds, and are pleased to announce that we will be returning $3 billion of the proceeds to shareholders in addition to the 'down payment' of $646 million made over the past few months,” Yahoo CEO Marissa Mayer announced yesterday. “This yields a substantial return for investors while retaining a meaningful amount of capital within the company to invest in future growth." Business Insider published Mayer’s leaked memo to staff about the deal, which read in part: “This outcome is terrific for Yahoo!. It generates liquidity to create substantial value for our shareholders, while retaining a meaningful amount in the company to invest ...

Full article: http://searchenginewatch.com/article/2206836/Yahoo-Shareh...

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