Tuesday, December 02, 2008 9:52:53 PM
Ex-AOL boss seeking cash to buy Yahoo
Yahoo Inc.’s stock rallied Tuesday on a report that AOL’s former chief executive believes he can raise enough money in a worsening recession to buy the struggling Internet company for as much as $30 billion.
The Wall Street Journal raised investor hopes with a story that said Jonathan Miller, who stepped down as AOL’s top exec two years ago, is trying to secure financing to make a bid for Yahoo at $20 to $22 per share, or $28 billion to $30 billion.
Yahoo Inc.’s stock rallied Tuesday on a report that AOL’s former chief executive believes he can raise enough money in a worsening recession to buy the struggling Internet company for as much as $30 billion.
The Wall Street Journal raised investor hopes with a story that said Jonathan Miller, who stepped down as AOL’s top exec two years ago, is trying to secure financing to make a bid for Yahoo at $20 to $22 per share, or $28 billion to $30 billion.
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