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The bid is rumored at $20 per share, approximately 24% times earnings for the past year and about $3 more than the stock's current price.
Yahoo has a deep history with both companies. Yahoo has a 43% equity stake in Chinese online retailer Alibaba. Softbank, a Japanese telecommunications and Internet firm, owns about 40% of Yahoo Japan. (Yahoo owns 35% of its Japanese venture.)
Meanwhile, Yahoo's board is meeting to discuss offers it received for smaller stakes in the company, Bloomberg reports. A bid from a group led by Silver Lake is rumored to value the company at $16.60 per share. A separate offer from TPG Capital is said to be higher.