Report: Former AOL CEO, Miller, Raising Funds To Buy Yahoo
Dec 2, 2008 at 2:11pm ET by Barry Schwartz
Former AOL Chief Seeks Funds for Yahoo Deal from the Wall Street Journal reports Jonathan Miller, ex-AOL CEO, is trying to put together enough money to buy Yahoo.
Miller is reportedly looking to raise raising about $28 billion to $30 billion, equivalent to $20 to $22 per share, to buy all of Yahoo. The Wall Street Journal said that their sources are skeptical that Miller will be successful in raising the necessary capital to make this purchase. In addition, many lenders are not only not lending, but they also find Yahoo to be a risky bet, according to the report.
paidContent.org adds that the WSJ might be looking too much into their sources. Miller and “his partners at Velocity have been presenting to investors all across the globe, including sovereign investors in Dubai, to raise a new fund for his VC firm,” said paidContent. Adding that maybe the sources got these two stories “confused.” Although there are multiple sources claiming Miller met with Yahoo in the past few weeks.
Yahoo’s stock price jumped today on the news.
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