Yahoo stock rises on new acquisition report

A second report indicates that AOL's former CEO, Jonathan Miller, is interested in buying some or all of Yahoo.

Yahoo's stock rose 8 percent to $11.64 Tuesday after The Wall Street Journal reported former AOL Chief Executive Jonathan Miller is trying to raise money to acquire all or a part of the Internet pioneer.

Miller believes he can do a deal worth about $20 to $22 per share, according to the report, which cited unnamed sources. Those sources said Miller is trying to raise money from private equity investors and sovereign wealth funds.

A Times of London report over the weekend also said Miller was working on a deal, but that report limited the scope to Yahoo's search business and said the ultimate owner of the assets would be Microsoft. The Wall Street Journal report didn't uncover a Microsoft connection.

Miller runs a venture capital fund called Velocity Interactive Group.

Yahoo and Velocity Interactive didn't immediately respond to requests for comment.

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About the author

Stephen Shankland has been a reporter at CNET since 1998 and covers browsers, Web development, digital photography and new technology. In the past he has been CNET's beat reporter for Google, Yahoo, Linux, open-source software, servers and supercomputers. He has a soft spot in his heart for standards groups and I/O interfaces.

 

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