Private equity firms may find it difficult to compete with strategic companies if a bidding war ensues. Representatives for Advent, Bain, Vector, Dan Gilbert and Vista didn’t immediately respond to requests for comment. Representatives for Apax, AT&T, TPG, Sycamore, Verizon and Yahoo declined to comment. While the group is still in the running, Sycamore and Vector probably don’t have the capital resources to win, one of the people said.Īpax Partners and a group comprising Bain Capital and Vista Equity Partners are no longer involved in the process, the people said.ĪT&T and Gilbert, whose effort is backed by Warren Buffett, each bid about $5 billion for Yahoo, including at least some of its patents as well as the real estate assets, people with knowledge of the matter said last week. Vector invests in tech companies including Gerber Scientific Inc. and department store chain Belk Inc., according to its website. Sycamore focuses on retail and consumer investments, rather than technology firms, and owns stakes in shoe retailer Nine West Holdings Inc. Sycamore and Vector, two investment firms that have teamed up to bid, typically invest in smaller assets. TPG, which sees itself as Yahoo’s best chance to turn around a struggling business, has had preliminary talks with strategic partners, although it continues to bid alone, one of the people said.Ī winning bidder for some combination of Yahoo’s assets will probably be chosen early next month, the people said. Buyout firm TPG offered from $5 billion to $6 billion for Yahoo’s core internet business, patents and real estate holdings.

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