> Warren Buffett Blog: Dan Gilbert is bidding for Yahoo and how it is linked to Berkshire

Wednesday, May 18, 2016

Dan Gilbert is bidding for Yahoo and how it is linked to Berkshire

Warren Buffett could finance fellow billionaire Dan Gilbert's bid to buy Yahoo, but Buffett said he's not planning to be an equity partner in the deal, according to CNBC.
Yahoo CEO Mayer
"I'm an enormous admirer of Dan and what he has accomplished in Quicken Loans,” Buffett told CNBC, the cable network reported today. ”Yahoo is not the type of thing I'd ever be an equity partner in. I don't know the business and wouldn't know how to evaluate it, but if Dan needed financing, with proper terms and protections, we would be a possible financing help."


Reuters today reported that Gilbert and Buffett are among investors vying for Yahoo's Internet assets. And the Financial Times reported a letter co-signed by Buffett and Gilbert expressed interest in the internet group and said Buffett's company, Berkshire Hathaway, was ready to provide debt financing for the deal.


The group of investors is in the second round of bidding in an auction of Yahoo's assets, according to Reuters and Bloomberg News.