Financials Mergers & Acquisitions

Yahoo turmoil worsens as bids drop to $2bn

Yahoo’s core business could be worth much less than originally thought as second round bids from the likes of Verizon are reportedly in the range of $2bn and $3bn for its search and content network assets, according to sources familiar with the goings on – first reported in the Wall Street Journal.

Bids for these assets began back in February when they were valued as high as $8bn but following a terrible quarter in which revenue was down 18% ($98m) from the previous year to $859m, as well as the loss of its $100m annual web hosting contract at AT&T at the hands of Synacor, things are looking bleak.

Yahoo Chief Executive Marissa Mayer has been busy over the past f

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