Report: Yahoo Financials Implode Week Before Bids for Company

Marissa Mayer, yahoo
The Associated Press

From Kara Swisher writing at Re/Code:

According to some pages from the “book” that Yahoo bankers have given out to prospective buyers, the financial situation at the Silicon Valley Internet giant is becoming increasingly dire.

While I cannot show the documents I have obtained, Re/code has gotten access to them. The book, for those not familiar, is made up of disclosure documents that sellers give to buyers to allow them to intelligently prepare a bid. In addition, those interested also have access to a protected data room, with more detailed information.

And, along with reviewing the documents, a series of sellers I have interviewed said that while the Yahoo book is unusually confusing and perhaps purposefully so — more on that below — it shows a company in what has been a serious free fall, which has been apparent to many for a while now and from Yahoo’s continuing public downgrading of its prospects.

Still, the collective issues depicted in the book has many nervous about bidding.

Read the rest of the story at Re/Code.