If it’s Wednesday, which it is, then it must be time for another Yahoo! (YHOO) deal rumor.
DealBook’s Evelyn Rusli and Michael de la Merced this afternoon report that Yahoo!’s board of directors is meeting tomorrow to review a proposal that the company sell off its assets in Asia in a deal valued at $17 billion.
The authors cite anonymous sources as saying the proposal, worth $14 a share, would see Alibaba Group Holding Ltd. buy back from Yahoo! the latter’s 42% stake in the company, while Japanese investment giant Softbank would buy out Yahoo!’s 35% stake in Yahoo! Japan. The deals would utilize “new legal entities” to allow the parties an asset swap without incurring taxes, the authors write.
Yahoo! shares are up 63 cents, or 4%, at $15.75, having popped just a short while ago after trading down most of the day.
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