DealZone

Blackstone Group and Bain Capital are preparing a bid for all of Yahoo with Asian partners in a deal that could value the Internet company at about $25 billion, a source familiar with the matter said.

“Yahoo’s directors are leaning toward selling a minority stake in the company to an investor group instead of selling the business outright, after a meeting of the company’s board on Wednesday, according to people briefed on the matter,” reports the NYT’s DealBook.

“AT&T Inc. and Deutsche Telekom AG, the parent of T-Mobile USA, have discussed an alternative transaction—forming a joint venture that would pool network assets from the two U.S. wireless carriers—if their current acquisition deal falls apart,” the WSJ reports.

Bloomberg profiles Tom Horton, the new chief executive officer at AMR.

Facebook games developer Zynga is seeking a lower-than-expected $10 billion valuation for its initial public offering, which is to be priced on December 15, two people close to the process said.

Benzinga weighs in on the topic of the moment: What’s Facebook worth?