Yahoo sells shares back to Alibaba for $7.1billion
NEW YORK, NEW YORK: According to SEC documents filed this week, Yahoo Inc, currently ran by Marissa Mayer has unanimously decided to return $3billion to shareholders after selling half of its shares in Chinese company Alibaba for $7.1billion.
That includes a one time payment of $6.3billion in cash, and $800million in so-called ‘preference shares’ from Alibaba to buy back its stock — providing a much needed cash injection for Yahoo.
- Yahoo rakes in $7.6 billion in sale of Alibaba shares (o.canada.com)
- Yahoo! Returning 85% of Alibaba After-Tax Cash To Shareholders (dailyfinance.com)
- Yahoo Shares Rise on Plans to Return $3.65 Billion to Investors (bloomberg.com)
- Yahoo sells chunk of Alibaba stake (guardian.co.uk)
- Alibaba Buys Back 20% Stake From Yahoo for $7.6 Billion (techie-buzz.com)
- Yahoo and Alibaba Close Long-Sought $7.6 Bln Deal (blogs.wsj.com)