The New York Times
Wednesday, December 21, 2011 -- 3:25 PM EST
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Yahoo Board Set to Weigh Sale of Asian Assets
Yahoo's board will consider a deal to sell its holdings in Alibaba Group and its Japanese affiliate back to their majority owners in a complicated tax-free deal valued at about $17 billion, according to people briefed on the matter.
If the board, which is set to meet Thursday to discuss the broad outlines of the offer, ultimately approves pursuing a deal, it may reject separate investment proposals by Silver Lake and TPG Capital, some of these people said.
The deal is valued at close to $14 a Yahoo share, these people said. Under the current proposed terms, Alibaba and Softbank, Yahoo Japan's majority owner, would create new legal entities that would consist of both cash and certain operating assets. Yahoo would then swap out most of its stake in Alibaba and all of its stake in Yahoo Japan for these entities, effectively selling those holdings.
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http://dealbook.nytimes.com/2011/12/21/yahoo-to-consider-sale-of-asian-assets/?emc=da
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