Feeds

Former! AOL! chief! reportedly! mulling! Yahoo! bid!

Miller raising $30bn

High performance access to file storage

Former AOL chief Jonathan Miller is reportedly trying to raise cash to buy Yahoo!, giving the search engine's beleaguered shares a shot in the arm late Tuesday.

Miller has been wooing private investors and sovereign-wealth funds "for months" in order to raise between $28bn and $30bn for the deal, according to The Wall Street Journal. He reportedly may make an offer worth between $20 and $22 a share for the company.

Yahoo! shares were up 7.08 per cent at $11.50 at Nasdaq's close.

The WSJ notes it's unclear where the talks presently stand. Several Yahoo! board members weren't even aware of Miller's efforts, suggesting the deal isn't exactly at the "heavy petting" stage of courtship.

Miller currently runs Velocity Interactive Group, a private equity firm. He was tapped for a seat on Yahoo!'s board in July as part of a settlement with bazillionare investor Carl Icahn, but bailed when Time Warner said it would enforce its non-compete agreement.

There's quite a bit of skepticism going round on the news as to whether Miller can raise the money in today's investment-shy economy.

In the meantime, rumors abound to who may snatch up Yahoo! after Microsoft's final rejection. Lately fingers have even been pointing to Nokia - although the company denied an interest in buying Yahoo! today. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.