Dan Gilbert
Berkshire Hathaway Inc. Chairman Warren Buffett is backing a group, which includes Quicken Loans founder Dan Gilbert, bidding for Yahoo! Inc.’s Internet assets, Bloomberg News reports.
Citing "people familiar with the matter," Bloomberg's Alex Sherman reports that the group is in the second round of bidding for Yahoo’s assets. Bloomberg's attempts to get comment from Buffet and Gilbert were unsuccessful.
Bloomberg reports:
Yahoo helped millions of people discover e-mail and the Internet in the 1990s, but failed to keep up with changing consumer tastes and advertising techniques, losing audience and revenue to Facebook Inc., Twitter Inc. and Google. The company in February began exploring strategic options after it scrapped a long-held plan to spin off its multibillion-dollar stake in Alibaba Group Holding Ltd. because of concerns about a potentially hefty tax bill.
