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Yahoo and AOL are reportedly closing a deal to combine their operations - an action that Yahoo hopes will help fortify it against Microsoft’s attentions.
A spokesman for Microsoft, when asked for a comment about the deal, reiterated (via CNET News) an earlier statement by the company’s general counsel, Brad Smith: “Our proposal remains the only alternative put forward that offers Yahoo shareholders full and fair value for their shares, gives every shareholder a vote on the future of the company, and enhances choice for content creators, advertisers, and consumers.”
UBS analyst Benjamin Schachter says he still believes Microsoft holds “the cards and the cash,” writes Reuters.
News of the liaison followed a report that Yahoo made a tentative agreement to serve Google ads on its search pages.
The AOL deal includes the repurchase of Yahoo shares at a price higher than Microsoft’s offer, which was about $31 per share. Time Warner will fold AOL into Yahoo and exchange cash for 20 percent ownership of the combined units.
Yahoo first considered merging with AOL and outsourcing search advertising to Google in early February.
But Microsoft is not easily thwarted. The Wall Street Journal reports (via MarketingVox) that Microsoft is talking with Rupert Murdoch of News Corp. to propose a joint bid for Yahoo. No agreement has been reached.
Last month, after speculation that News Corp. and Yahoo might pair up, Murdoch publicly announced he would not battle Microsoft for the search company.
A combination of News Corp., Microsoft and Yahoo would make siblings of the three biggest online properties: MySpace, MSN and Yahoo.
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