According to a report in recode, Yahoo's "sale" book shows there's some challenging times ahead for potential suitors.

And, along with reviewing the documents, a series of sellers I have interviewed said that while the Yahoo book is unusually confusing and perhaps purposefully so — more on that below — it shows a company in what has been a serious free fall, which has been apparent to many for a while now and from Yahoo’s continuing public downgrading of its prospects.

[recode.net...]