Sealing The Deal

Skadden's Familiarity With Yahoo Key In Closing $4.48B Sale

By Chelsea Naso (July 7, 2017, 11:21 AM EDT) -- It was mid-2013 when Skadden Arps Slate Meagher & Flom LLP partner Marc Packer — who first advised Yahoo Inc. in 2001 — was called on to help the flagging technology giant consider how to best deal with its monstrous stake in Chinese internet and e-commerce giant Alibaba Group Holding Ltd.

The stake, while valuable, was clouding the market's ability to value Yahoo's core business at a time when the company was attempting to forge a turnaround and keep up with competitors. At first, the company opted for a tax-free spinoff of the stake.

The transaction would have been a somewhat...

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