News of the takeover is expected to come before the market opens, said a person with direct knowledge of the situation who asked not to be identified because the information isn’t public. The deal includes Yahoo real estate assets, while some intellectual property is to be sold separately, the person said. Yahoo will be left with its stakes in Alibaba Group Holding Ltd. and Yahoo Japan Corp., with a combined market value of about $40 billion.
Rival parties interested in purchasing Yahoo included: AT&T, Bain Capital, Vista Equity Partners, TPG and Advent International, and others.
No word yet on what will be done with Alibaba and Yahoo Japan.