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.
Aover 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.