“AOL and Yahoo, fallen giants of the first age of the internet, are reportedly discussing a merger,” Dominic Rushe reports for The Guardian. “The news comes after Yahoo axed chief executive Carol Bartz earlier this week.”
“AOL’s chief executive Tim Armstrong has approached Yahoo’s advisers to gauge its interest in combining the companies, Bloomberg reported,” Rushe reports. “Armstrong has reportedly approached investment bankers from Allen & Co. who are working with Yahoo.”
Rushe reports, “Armstrong reportedly teamed up with several private equity firms to make an approach to Yahoo last year but was rebuffed by Bartz. Yahoo was courted by Microsoft in 2008 but rejected a $47.5bn (£30bn) offer. The firm was worth $80bn in its heyday and is now worth just over $17bn.”
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MacDailyNews Take: Who’s catering those talks, Webvan?