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Alibaba Yahoo Transaction Presentation Final

Alibaba Yahoo Transaction Presentation Final

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Categories:Business/Law, Finance
Published by: DigitalMediaWire on May 21, 2012
Copyright:Attribution Non-commercial

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05/25/2012

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Yahoo! Inc.
Alibaba Group Transaction Presentation5.21.2012
 
Forward-Looking Statements
This presentation contains forward-looking statements concerning the agreement entered into by Yahoo! with AlibabaGroup Holding Limited, including, without limitation, statements about the expected timing of closing of the transactionscontemplated by the agreement, the ability of Yahoo! to monetize its holdings in Alibaba in both the near-term and inthe future
,
potential future actions by Yahoo! and Alibaba concerning future business initiatives between Yahoo! andAlibaba and the potential for an initial public offering of Alibaba shares, and other expected benefits of the agreementand related agreements
.
Risks and uncertainties may cause the actual results and benefits of the transactionscontemplated by the agreement and related agreements to differ materially from management expectations. Thepotential risks and uncertainties include, among others, the failure to consummate or delays in consummating thetransactions contemplated by the agreement; uncertainty regarding the future valuation of Alibaba; uncertaintyregarding the financing of the transactions; uncertainty regarding if and when there will be an initial public offering ofAlibaba shares; uncertainty regarding any future business initiatives with Alibaba; general economic and marketconditions; and the possibility that some or all of the expected benefits of the agreement and related agreements maynot be realized. All information set forth in this presentation is as of May 20, 2012. Yahoo! does not intend, andundertakes no duty, to update this information to reflect subsequent events or circumstances. More information aboutpotential factors that could affect Yahoo!’s business and financial results is included under the captions “Risk Factors”and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Yahoo!’s AnnualReport on Form 10-K for the fiscal year ended December 31, 2011, as amended, and Quarterly Report on Form 10-Qfor the quarter ended March 31, 2012, which are on file with the Securities and Exchange Commission (“SEC”) andavailable at the SEC’s website atwww.sec.gov.Yahoo! and the Yahoo! logos are trademarks and/or registered trademarks of Yahoo! Inc. All other names aretrademarks and/or registered trademarks of their respective owners.
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Paves the way for an IPO of Alibaba Group
Partial monetization in near-term at attractive valuation and terms
Tremendous return on investment… prudent to take some chips off the table
Ability to participate in future upside and monetize at least half of stake at public market value
Straightforward transaction means quicker time and greater certainty to close
Aligns interests between Alibaba Group and Yahoo!... a stronger relationship going forward
Opportunity to return a substantial amount of cash to shareholders
Transaction Rationale – Balance of Near TermLiquidity with Future Growth
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