Feeds

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

Miller raising $30bn

Secure remote control for conventional and virtual desktops

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.