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Ex-AOL Chief Seeks Funds to Buy Yahoo

$30B difficult to raise amid recession

By Ambreen Ali, Newser User

Posted Dec 2, 2008 2:08 PM CST

(Newser) – After months of advising both Microsoft and Yahoo on a failed deal, former AOL chief Jonathan Miller is trying to put together a bid for Yahoo himself. The venture capitalist is asking private investors to help him amass the $30 billion needed to acquire the struggling, $10-a-share search engine group, down $20 since February, reports the Wall Street Journal.

Miller has approached private equity investors and sovereign wealth funds, though the odds of raising the requisite capital in such a sour economic climate are poor. He faces competition from other private equity firms as well as Microsoft, which has maintained a lingering interest in the Google rival. It's unclear whether the Seattle giant is involved in Miller's plans, the Journal says.

Miller is expected to pay between $20 to $22 per Yahoo share if he buys it, requiring him to raise nearly $30 billion. (AP Photo/Paul Sakuma)

Jonathan Miller, former chairman and CEO of AOL, is rounding up the money to buy Yahoo. (AP Photo/Damian Dovarganes, file)

Billionaire financier Carl Icahn wanted Jonathan Miller to be part of his Yahoo board takeover this summer, but Time Warner warned Miller it would break his loyalty clause. (AP Photo/Charles Rex Arbogast, File)

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Ex-AOL Chief Seeks Funds to Buy Yahoo

$30B difficult to raise amid recession

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They say other 'players in the industry' are welcome to join them

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$30B difficult to raise amid recession

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OTHER STORIES ON OUR RADAR

Yahoo • Time Warner • AOL • Microsoft • mergers and acquisitions • investment • venture capitalists • financial crisis • Jonathan Miller

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Google, Yahoo, 13 Others Declare War on Phishing

New set of standards could make email more trustworthy

Yahoo Attracts Many Suitors, Weak Offers

$20.6B price way down from 2008

Microsoft, Aol, Yahoo Agree to Sell Each Other's Ads

They say other 'players in the industry' are welcome to join them

Paul Allen Re-Sues Apple, Google, Facebook

Microsoft co-founder refiles suit after judge's dismissal

AOL Weighs Breakup, Yahoo Merger

Internet firm could split dial-up, advertising arms

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Newser By Users

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