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Strategies & Market Trends : Speculating in Takeover Targets
CTG 8.190-0.5%Jan 26 3:11 PM EST

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From: richardred10/14/2010 9:28:34 AM
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Ahead of the Bell: Buyout rumor lifts Yahoo shares
Buyout rumor lifts Yahoo shares; report says AOL, private equity firms, eyeing bid

NEW YORK (AP) -- Yahoo Inc. shares got a boost ahead of regular trading Thursday on reports of a potential buyout offer from AOL Inc. and a group of private equity firms.

A deal would marry two companies that haven't been able to improve their financial performance amid relentless competition from other online destinations like Google, Facebook and Twitter.

The Wall Street Journal reported on its website after the close of trading Wednesday that AOL, Silver Lake Partners and Blackstone Group LP are exploring a bid. Two or three other firms could also be interested in the deal, the Journal said. The talks have not yet involved Yahoo.

The company resisted a takeover attempt in 2008, when Microsoft Corp. offered to pay as much as $47.5 billion -- well above Yahoo's market value today of less than $25 billion. But shareholders were so upset at the company for balking that then-CEO Jerry Yang decided to step down.

He was replaced by Carol Bartz at the beginning of 2009, but she hasn't been able to get revenue growing again.

News of a potential buyout sent Yahoo shares up $2.43, or 16 percent, to $17.68 in pre-market trading.
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