Yahoo cofounder David Filo considered joining a group that tried to buy the company
It turns out Yahoo’s cofounder David Filo had interest in becoming part of a group that tried to buy the company back in July.
According to a new regulatory filing submitted Friday, a group only identified as “Sponsor F” asked Filo to provide equity financing in its bid to purchase Yahoo’s core business, and Yahoo’s cofounder indicated he was open to discussing participating in a bid.
“Mr. Filo indicated that he would be willing to discuss a potential equity participation in a bid by Sponsor F or, if requested, by another financial sponsor bidder if it would help to facilitate maximizing stockholder value in the strategic alternatives process,” the filing says.
The filling doesn’t say whether Filo ended up joining the bid. But it does disclose what Sponsor F’s bid looked like: a base purchase price of $4.35 billion, without including Yahoo’s IP assets or real-estate property.
Sponsor F had initially made a joint bid with another party only identified as “Sponsor E,” but after Sponsor E pulled out of the deal, it sought Filo’s help for equity financing, it says.
Filo, who owns 7.4% of the company and sits on Yahoo’s board, had to exclude himself from all subsequent board meetings after he expressed his interest to be part of Sponsor F.
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