Alibaba and Softbank Corp. are said to be in advanced talks with Blackstone Group LP and Bain Capital LLC about making a bid for all of Yahoo.
Yahoo’s stock rose as much as 4.8 percent on the prospect of a bid from a group led by Alibaba Group Holding Ltd.
Alibaba Chief Executive Officer Jack Ma said in October that his company is interested in purchasing Yahoo. Earlier attempts by the Chinese e-commerce leader to buy out Yahoo’s stake faltered amid disagreements with former CEO Carol Bartz.
Yahoo’s board is meeting to discuss offers it received for a minority stake from bidders including TPG Capital and a group led by Silver Lake, people familiar with the matter said this week. Silver Lake’s bid valued Sunnyvale, California-based Yahoo at about $16.60 a share