Tuesday, November 9, 2010

Yahoo Shares Surge As Takeover Speculation Heats Up

Shares of Yahoo Inc. (NASDAQ: YHOO) rallied more than 5% on Tuesday after Reuters reported that AOL Inc (NYSE: AOL) has tapped Bank of America to explore a potential merger with its bigger rival. Reuters also reported that Jack Ma, founder of Alibaba Group, has been approached by a group of private equity investors to gauge his interest in joining a bid to acquire the internet giant. Meanwhile, the New York Post reported Tuesday that PE giant KKR & Co. is among the parties interested in either taking Yahoo! private or helping finance a deal if the struggling internet pioneer decides to go that route. Stay tuned for more.

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