Verizon’s Proposal to Acquire Yahoo Isn’t Just About the Cash
- AOL, Tim Armstrong’s leadership seen key to Verizon’s pitch
- Auction deadline approaches, decisions could come this week
As Verizon Communications Inc.’s bidding battle for Yahoo! Inc. comes down to the wire this week, the New York-based phone giant is betting that victory will be determined not only by its cash but by the strategy and leadership it has planned for the internet pioneer.
Bids from Verizon, its rival AT&T Inc. and private equity firms were due Monday, and a decision could come as soon as this week, according to people familiar with the matter. While some of the parties may view Yahoo as a collection of assets that could be realigned or broken apart, Verizon sees a complimentary set of businesses that could find a home alongside its AOL properties. And Verizon is confident it has a key asset to make the integration a success -- AOL Chief Executive Officer Tim Armstrong, according to people familiar with the company’s strategy.