Dan Gilbert Rumors
Yahoo appears to be making progress in efforts to sell itself, despite some initial skepticism. The latest piece of evidence: Among those vying for the company is the unusual combination of the investor Warren E. Buffett and Dan Gilbert, the founder of Quicken Loans and owner of the Cleveland Cavaliers.
That consortium is one of several suitors that have moved into the second round of bidding for Yahoo, according to people briefed on the matter. Mr. Gilbert is leading the bid, said the people, who were not authorized to speak publicly. Mr. Buffett’s conglomerate, Berkshire Hathaway, is offering to provide financing, as he has done with the investment firm 3G Capital in its takeovers of H. J. Heinz and Kraft, and is leaving the negotiations to Mr. Gilbert, according to the people.