At least two private equity groups placed bids on Yahoo today, and both bids valued the company at more than $20 billion.

A consortium led by Silver Lake bid $16.60 per share for a minority stake, according to Bloomberg. That would value Yahoo around $20.6 billion, or about 6% higher than the company’s share price at market close today.

It’s also on the very low end of the bidding prices that have been floated in the press over the last couple months.

Microsoft and Andreessen-Horowitz are also part of the Silver Lake group, the report says, although sources told us that Microsoft is still keeping its options open. Microsoft’s main interest in the deal is preserving its search arrangement with Yahoo.

via The First Yahoo Bids Are Coming In, And They Look Pretty Low.