Boston, MA, 11\/22\/2013 (wallstreetpr) \u2013 Yahoo! Inc (NASDAQ:YHOO)<\/b> announced the pricing of its $1.25 billion convertible five year notes, besides raising the limit by 25%. Initially Yahoo was looking to raise $1 billion only through this route. The allowable over-allotment limit was also raised to $187.5 million. The notes are due to mature in 2018 and are expected to convert at $53.43 per share. The company will be paying half-yearly interest on them on the first of June and December, every year till they mature. The interest payout will start from June 1, 2014.<\/p>\n
Yahoo plans to use the proceeds to finance cash convertible note hedge transactions besides finance buyback of $200 million of common stocks through private negotiations. Balance proceeds will be used for general corporate purposes including working capital needs, buy-backs and to finance acquisitions. The company reported $1.83 billion of cash and short term investments at the end of the third quarter. Yahoo also spent $77.7 million on CAPEX in the third quarter.<\/p>\n
Yahoo! Inc (NASDAQ:YHOO) <\/b>is proceeding aggressively on acquisitions and has spent $218 million in the first nine months to takeover 17 companies. This is apart from the $990 million it spent to takeover Tumblr, the blogging platform in May, 2013. Some of the past acquisitions had saddled the company with a number of unwanted domain names. Yahoo! Inc (NASDAQ:YHOO) <\/b>conducts regular auction of these names. In one of the recent auction, it was able to sell one domain name, sandwich.com for $137,500. Though more than 100 domain names were on sale, many could not reach the reserve prices. Yahoo had sold hotjobs.com to Monster Worldwide Inc (NYSE:MWW) for a staggering $225 million in 2010. This domain was acquired when Yahoo purchased hotjobs.com for $439 million.<\/p>\n
Yahoo also announced an additional buyback of $5 billion of the company\u2019s common stock. This is apart from the buyback of $5.3 billion in the first nine months. Yahoo had purchased back its stocks worth $1.66 billion in the third quarter.<\/p>\n
The share of Yahoo! Inc (NASDAQ:YHOO)<\/b> were trading at $36.30 per share after touching the six-year high of $36.66.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA, 11\/22\/2013 (wallstreetpr) \u2013 Yahoo! Inc (NASDAQ:YHOO) announced the pricing of its $1.25 billion convertible five year notes, besides raising the limit by 25%. […]<\/p>\n","protected":false},"author":32,"featured_media":12564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[4143,709,4144,4145,1816],"stock_ticker":[],"class_list":["post-12666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-monster-worldwide-inc-nysemww","tag-nasdaqyhoo","tag-nysemww","tag-tumblr","tag-yahoo-inc-nasdaqyhoo","entry"],"acf":[],"yoast_head":"\n