Yahoo’s management team is holding daily meetings with advisers and a special board committee to figure out the best “strategic alternatives” for either selling the company or spinning off the business, CEO Marissa Mayer revealed on Tuesday.
Mayer says there have been plenty of “misconceptions” and “external noise” about the company’s plans. She also says she completely supports the Yahoo board’s efforts to explore a sale of the company while also considering other options.
“Let me be unequivocal, our board, the management team, and I have made the strategic alternative process a top priority,” Mayer said during the company’s first-quarter results conference call.
When asked about the “alternatives” that are being explored Mayer said the company continued to do “some work” around the so-called reverse spin-off of Yahoo’s core business, “but obviously the larger volume of work is being done on the process around the sale.”
Mayer and CFO Ken Goldman both refused to provide any details about any acquisition offers the company may have received.
“In order to protect the integrity of the process, we are not going to comment further on things like timing and/or particular offers,” Mayer said.
Mayer did say that she has personally responded to “hundreds of requests for information” from various parties involved in the bidding process.
Mayer said she is involved in both in person and phone calls with prospective clients.
At this time Yahoo is not providing any details about the acquisition, Mayer says they are moving “expeditiously” to find the right buyer or another plan for the company.
Mayer says Yahoo will not provide any further details until a plan is locked into place.