Final round bids for Yahoo's core business are due today, at last, after a protracted and leak-prone negotiations process that started over four months ago. Yahoo CEO Marissa Mayer entered into the process reluctantly and now has little incentive to close the sale, which will most likely result in her departure.
That reluctance has effectively sidelined the embattled Mayer, Recode reports. She "is not calling any of the shots," sources say; instead, board chairman Maynard Webb and others have assumed control.
The disclosure adds insult to injury for the increasingly isolated Mayer. Last week, a research report lent credence to the claim that the Yahoo patents she had been hoping to sell off for around $4 billion, in a separate process, are largely worthless.
Prospective buyers for Yahoo's core digital business include Verizon, a consortium led by Quicken Loans founder Dan Gilbert, and private equity firms. Analysts expect the final price to land somewhere between $3 billion and $6 billion, depending on which assets fall under the winning agreement.
Yahoo will report its second quarter earnings later today.