Yahoo CEO Marissa Mayer is secretly pitching a "package deal" that would sell Yahoo's core business under the condition that she remain CEO, according to a report by the New York Post's Claire Atkinson and James Covert.The deal is being pitched by Frank Quattrone, the famous banker Mayer has hired, the report said.
Other bidders that have been vying for Yahoo could re-emerge, and an agreement with Verizon isn't guaranteed, the person cautioned.
Bloomberg News earlier Friday reported that Verizon was likely to prevail in the auction.
SUNNYVALE, CA - JANUARY 22: The Yahoo logo is seen on a sign outside of the Yahoo Sunnyvale campus January 22, 2008 in Sunnyvale, California.
Starboard said in a letter earlier this year that it would launch a proxy fight if its demands are not accepted.
The month-long period to nominate new board members started last week, but there haven't been any submissions made yet.
The Post report said that Yahoo's board will meet with Starboard for the first time next week.Verizon, long considered the most likely buyer since Yahoo put itself up for sale, could reach a deal to buy the company in the coming days, according to a person familiar with the matter.Some media reports have painted a picture of dysfunction within Yahoo's board of directors, as Mayer and some of the other directors each pursue different plans to sell the struggling company."I want to make it very clear that between management, Marissa, myself, the rest of the management team, and the committee, and the board, we're actually all aligned in terms of what creates the best shareholder value, and that will be the ultimate criteria of what we end up doing," Goldman said.He continued, "I want to make it very clear the Strategic Review Committee has hired advisors.Those are the only advisors that are working on our collective behalf relative to the spin work and strategic alternative work.Period."Yahoo is under pressure by activist investor Starboard Value to make changes across the company, including a the sale of its core business, an overhaul of management, and cuts to its cost structure.