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After surging 7 percent Tuesday on rumors that a former AOL executive wants to acquire Yahoo for as much as $30 billion, the beleaguered Internet portal’s shares were down nearly 5 percent at $11.02 per share in mid-day trading on Wednesday but closed flat as the market rallied. Jonathan Miller, former chairman and CEO of AOL, is trying to raise as much as $30 billion to buy Yahoo at about $22 per share, according to reports that first surfaced Tuesday. That’s significantly lower than the $33 per share, or $47 billion buyout offer that Microsoft made last February.

Here is the original:
Ex-AOL Boss Rumored Sniffing Around Yahoo

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This entry was posted on Wednesday, December 3rd, 2008 at 10:35 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.