Yahoo Sets April 11 Deadline To Submit Preliminary Bids: WSJ

(RTTNews) - Yahoo Inc (YHOO) has set an April 11 deadline to submit preliminary bids for its core web business and Asian assets, The Wall Street Journal reported, citing people familiar with the matter.

Yahoo advisers asked to submit proposals for their bids, including what assets they hope to acquire and for what price, the report said, citing a letter sent to possible buyers in recent days

Yahoo also asked bidders details regarding financing, conditions or approvals that would have to be met on their end, and what key assumptions they would be making by deciding to move forward with a deal, the report stated.

A deadline for preliminary bids in April could mean that Yahoo could close a deal by June or July, when Yahoo is expected to hold its annual shareholder meeting and vote on proxy proposals, the report specified.

Microsoft Corp. (MSFT) has held discussions with private-equity firms about helping to finance a buyout, the report added.