Billionaire investor Warren Buffett is getting in the bidding war for Yahoo
Bill Pugliano/Getty Images
The report said that Buffett is backing a group of investors that include Gilbert in the bidding war for Yahoo's web assets, which include its search and news properties.
Yahoo and Berkshire Hathaway representatives were not immediately available for comment.
Yahoo shares are up about 1.3% in after hours trading.
Yahoo recently live streamed Berkshire Hathaway's famous annual shareholders meeting. It said the live stream drew 1.8 million views in total.
Yahoo is currently in the second round of bidding for its core internet assets. It's been reported that Verizon and a number of private equity firms, including TPG, have placed bids in the first round. Yahoo has not commented on the bidding process yet. Wall Street analysts estimate Yahoo's core value to be worth around $4 billion to $8 billion.
After seeing years of stagnant growth, Yahoo has been under pressure from activist investor Starbaord Value to completely change management and sell its core internet business. Starboard Value's CEO Jeffrey Smith recently reached a settlement to withdraw his proxy fight in exchange for getting 4 board seats at Yahoo.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas