Gilbert-Buffett Bid for Yahoo! Assets Goes Forth

Jun 13, 2016

The effort by an investors consortium led by Quicken Loans CEO Dan Gilbert and backed by Warren Buffett’s Berkshire Hathaway is reportedly among the final round of bidders considered by tech giant Yahoo! in its sale of Internet assets.

According to a Reuters report citing “people familiar with the matter,” the Gilbert-Buffett effort will be going up against tech giants AT&T and Verizon for the third and final round of the Yahoo! assets auction. Yahoo! hopes to have the auction completed by next month.

Gilbert, who also owns the Cleveland Cavaliers basketball team, reportedly led this consortium in a $5 billion bid for the Yahoo! assets. Although Quicken Loans made a splash earlier this year with the online Rocket Mortgage service, it is unclear what Gilbert—or, for that matter, Buffett—would be planning to do with the Yahoo! online assets if they win this auction. Neither company offered a public acknowledgment of the story.

About the author

Phil Hall

Link copied

Published

Jun 13, 2016

Analysis and Data

Mortgage Rates Surpass 7% For First Time This Year

Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.10%.

Freddie Mac today released its Primary Mortgage Market Survey, revealing the 30-year fixed-rate mortgage (FRM) averaged 7.10%, breaching the 7% threshold for the first time this year. “The 30-year fixed-rate mortgage surpassed 7% for the first time this year, jumping from...

Analysis and Data

Existing Home Sales Decline By 4.3% In March

Northeast the only region to see an uptick in sales over prior month, per a new report from the National Association of Realtors

Fewer people bought homes this March than the month before and during March 2023, a new report from the National Association of Realtors (NAR) reveals. Total existing-home sales receded 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Year...