Private equity firms Blackstone Group and Bain Capital will lead a bid for the whole of Yahoo Inc after agreeing to team up with Alibaba Group, two people familiar with the matter said on Wednesday. The two takeover houses are eager to acquire Yahoo's core U.S. operations, one of these people said, adding that the composition of the consortium, which will also involve Japan's Softbank Corp , has not yet been formalized.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 7.94% or $1.01/share to $13.73. In the past year, the shares have traded as low as $10.51 and as high as $19.63. On average, 3881550 shares of BX exchange hands on a given day and today's volume is recorded at 4124032.
