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By shedding its Asian holdings, Yahoo would lose a major deterrent to an unsolicited takeover, and its smaller size would make a leveraged buyout more affordable.
"None of us could sell our homes if this didn't take place," Ms. Little said, calling the buyout "more than fair".
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For one thing, the credit markets have seized up, making leveraged buyouts more difficult and more expensive.
But it has steadily pared its work force through layoffs and voluntary buyouts — more than 3,500 in 2007 and an undisclosed number this year.
Mr. Kinder planned the buyout for more than two months before presenting a proposal to the board.
Thursday's closing price valued Advanced Auto at nearly $6 billion, making any potential buyout cost more than $7 billion.
Dell is advancing toward a goal many thought was all but unattainable since the financial crisis: a leveraged buyout worth more than $20 billion.
The market for initial public offerings has grown shakier in recent months, making buyout firms more reluctant to sell their portfolio companies for the time being.
That company still appears to be closing in on a potential deal to sell itself to a consortium that includes its founder, Michael S. Dell, and the investment firm Silver Lake, in the biggest leveraged buyout in more than five years.
The 47-year-old billionaire and his private equity backers are locked in talks to acquire Dell, the company he started with $1,000 as a teenager three decades ago, in a leveraged buyout worth more than $20 billion.
The proportion of G.M. workers who took a buyout is more than triple the acceptance rate at Ford, where 4,200 of 54,000 workers took deals offered as part of a similar program.
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