Andre Yoskowitz
14 Oct 2010 14:04
Yahoo shares surged as high as $17 today before fading after the WSJ reported last night that the Internet portal company AOL was interested in purchasing it.
In 2008, Microsoft offered $47.5 billion for Yahoo, but the company snubbed the offer.
Today, Yahoo's market cap is under $22 billion and any takeover would command a smaller price than what Microsoft offered just two years ago.
Because AOL can not afford the takeover solo, the company is teaming with specialty firms Blackstone and Silver Lake, known for taking over companies whose stock has fallen out of favor with the market.
Talks are still preliminary.
Microsoft, in 2008, offered $33 a share for Yahoo. The company's stock currently trades at $15.84.