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In the second round of the tender, the syndicate is auctioning for Yahoo's asset, said the group. One of the folks added that Buffett is assisting in financing the deal. Gilbert, a multibillionaire who also owns the US Cleveland Cavaliers baseball squad, is not clear whether he is using Quicken Loans in any way as part of the consortium's offering.
When Buffett was contacted by phone, he did not make an immediate statement. Though Quicken Loans refused to make a statement on Gilbert's name, Yahoo refused to do so. During Berkshire Hathaway's last month's Berkshire Hathaway conference, Buffett acknowledged that Berkshire had been sluggish to adjust to the new technologies in terms of investment. Buffett, whose Berkshire is a IBM Corp. stockholder, said in a CNBC May 2 hearing that Yahoo's Yahoo operations had worsened significantly and that "something must be changed there".
Ms Decker, who held several executive positions at Yahoo between 2000 and 2009, among them Chairman and CEO and Chief Finance Officer, is now a member of the Berkshire Executive Committee. "Hopefully the next landlord can do something to revive the mind of the key things that made Yahoo very, very special and make a difference in the heads of consumers about why they still like Yahoo.
Yahoo said last month Yahoo that activist hedging funds Starboard Value LP Chief Executive Jeffrey Smith LP and three independant managers associated with him would immediately join the executive team. The four new Yahoo executives were on a schist that Starboard had suggested should displace the whole Yahoo team.