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Mon, September 8, 2008 |
Last Updated: September 05,2008 3:34:15 pm
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July 2nd, 2008, By Carter Smith
Microsoft and Yahoo rise on deal talks report
 Microsoft looking for partners to dismember Yahoo The NewsShares of Yahoo! Inc. and Microsoft Corp. have climbed the most in five months in Nasdaq trading on optimism that Microsoft Corp. may try to revive attempts to take over the Internet company. Behind the NewsThe takeover may be officially over, but Microsoft is hankering for new ways to use Yahoo to bulk up its quota of the search advertising market.
The Wall Street Journal reported that Microsoft has been in talks with other media companies about teaming up to buy Yahoo's search business. The Journal reported that Microsoft has spoken to News Corp., Time Warner Inc. and others about a way to complete the proposed deal, which was initially announced on Feb. 1. Microsoft ultimately withdrew a $47.4 billion bid for Yahoo in May. But it has been reported that under pressure from shareholders, Yahoo went back to Microsoft and offered to sell for "for $33 to $34 a share, the price range Microsoft had offered before talks broke down". Microsoft declined the offer. But, under the new discussions now taking place, Microsoft would buy Yahoo's search business, and the rest of the company would be combined with another outlet, like News Corp.'s MySpace or Time Warner's AOL. The talks were described as preliminary, but the paper indicated Microsoft may be having difficulty finding a partner. It also has been reported that Microsoft has met with the activist investor Carl Icahn in recent days, urging the billionaire to keep pressing his proxy fight in an effort to motivate Yahoo's board. Nonetheless, the shares gained as much as 8.4 percent after the Wall Street Journal announced that the world's biggest software maker approached media companies about trying to break up Yahoo. Yahoo, based in Sunnyvale, California, climbed $1.28 to $21.48 at 9:58 a.m. New York time on the Nasdaq Stock Market. Earlier the shares rose as high as $21.90, the biggest gain since Feb. 1, when Microsoft disclosed its initial offer. Microsoft advanced 3 cents to $26.90. - CS Comments
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