Time (TIME) Considers Partnering with PE Firm for Yahoo (YHOO) Bid : Report

Time Inc. (TIME) is considering partnering with a private equity firm on a bid for Yahoo’s (YHOO) core Internet assets, Reuters reports, citing unnamed sources privy to the company’s plans, who say the U.S. publishing firm held talks with PE firms before signing a confidentiality agreement with Yahoo recently that forbids bidders in the sale process from communicating with each other.

The report notes that while Time Inc has not yet selected any private equity firm as a potential partner, deliberations on finding a partner to help fund the potential deal underscores the company’s limited resources. The report also says that Time could pursue a Reverse Morris Trust transaction with Yahoo, a tax-efficient deal in which one company merges with a spun-off unit, and that several private equity firms weighing bids for the web portal’s core business include Blackstone Group (BX), KKR & Co (KKR), TPG Capital, Apax Partners, Warburg Pincus, Bain Capital and Hellman & Friedman.

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