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December 2, 2008

Jonathan Miller Said to Pursue a Yahoo Stake

Former AOL chief executive Jonathan Miller is raising money to support a potential bid for Yahoo, the Wall Street Journal has heard from sources. (Update: A conflicting story in the Post says Miller is indeed fund raising, but that the money is for Velocity Interactive rather than Yahoo. More details.)

According to the story:

Mr. Miller has been talking to private equity investors and sovereign wealth funds for months in hopes of raising money for a Yahoo deal, and it is unclear whether the talks have progressed or are just continuing, these people say. Mr. Miller believes he can do a deal that would be worth around $20 to $22 a share to Yahoo shareholders, these people say, which would involve raising about about $28 billion to $30 billion to purchase the entire company.

As WSJ points out, the general palsy in lending activity right now makes such a fund raising job seem like a pipe dream.

Posted by Zachary Rodgers at December 2, 2008 1:27 PM

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