Deals
Yahoo Shares Rise on $3.65 Billion Investor-Payment Plan
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Yahoo! Inc. rose after saying it’s returning to shareholders most of the proceeds from the sale of half its stake in Alibaba Group Holding Ltd., allaying concern that the money would be spent on takeovers.
The U.S. Internet company will return $3 billion after using $646 million for buybacks in recent months, Sunnyvale, California-based Yahoo said yesterday in a statement. Shares gained 1.1 percent to $16.08 at 9:49 a.m. in New York.