Bloomberg News

U.S. Stocks Trim Losses as Yahoo Gains on Report of Possible Bid

October 13, 2011

Oct. 13 (Bloomberg) -- U.S. stocks trimmed losses as technology shares rallied following a report that KKR & Co. and Blackstone Group LP were among private-equity investors considering involvement in a possible bid for Yahoo! Inc.

Yahoo gained as much as 3.8 percent, reversing a 1.5 percent drop, after Bloomberg News reported that the firms may become part of a consortium that would pool the financing needed to take over the company, according to people with knowledge of the matter who asked not to be identified.

The Standard & Poor’s 500 Index slipped 0.7 percent to 1,198.87 at 1:17 p.m. in New York after slumping as much as 1.4 percent. The Nasdaq Composite Index was little changed, erasing a 0.6 percent drop.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


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