Reports Former AOL CEO Raising Money For Yahoo! (YHOO) Deal
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According to reports from the Wall Street Journal, former AOL CEO Jonathan Miller is attempting to raise money to purchase all or a portion of online media company Yahoo! (Nasdaq: YHOO), citing people familiar with the matter.
Miller has been working with private equity investors and sovereign wealth funds for months to come up with the money for a deal, but it still remains unclear if the talks have progressed or are just continuing. Miller is looking for a deal worth between $20-$22 per share.
Sources at Yahoo told the paper that they have deep skepticism that Mr. Miller will be able to line-up the necessary financing.
Since Microsoft (Nasdaq: MSFT) walked away from its $31 per share merger deal with Yahoo!, shares of the company have plunged to the $10 range. Due to the mess surrounding the failed Microsoft deal and subsequent share sell-off, Yahoo! CEO Jerry Yang was forced to resign. Some are still convinced Microsoft could complete a search-only deal with Yahoo!.
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