Microsoft and Yahoo rise on deal talks report
NEW YORK —
Shares of Yahoo Inc. and Microsoft Corp. rose in premarket trading Wednesday as the Wall Street Journal reported Microsoft has talked to other media companies about teaming up to buy Yahoo’s search business.
The paper reported Microsoft has spoken to News Corp., Time Warner Inc. and others with respect to a way to perfect the proposed deal, which was first announced on Feb. 1. Microsoft ultimately withdrew a $47.4 billion bid notwithstanding Yahoo in May.
The Journal suggested that Microsoft would corrupt Yahoo’s Internet search business, and the surplus of the company would exist combined with another outlet, like News Corp.’s MySpace or Time Warner’s AOL.
The talks were described as preliminary, and citing sources familiar with the talks, the Journal indicated Microsoft may exist having difficulty finding a partner.
In premarket trading, shares of Yahoo climbed $1.89, or 9.4 percent, to $22.09. The pedigree finished at $20.20 Monday, and is commercial at its lowest levels since late January. Microsoft shares gained 17 cents to $27.04.
Calls to both Microsoft and Yahoo were not immediately returned.
Original text: http://seattletimes.nwsource.com/html/businesstechnology/2008029173_apmicrosoftyahooreport.html?syndication=rss
