AOL hires advisors on Yahoo! bid

AOL is said to have hired external advisors to consider a bid for internet portal Yahoo!.

The company is presenting the feasibility of a bid to AOL officials, according to reports which cite sources close to the meetings.

However, AOL has yet to make a formal proposal to Yahoo, while the advisors are also said to be presenting alternative options to a Yahoo! takeover.

Reports of a potential tie-up between AOL and Yahoo surfaced last month after it emerged that private equity firm Silver Lake Partners had approached AOL about launching a joint takeover bid.

AOL has yet to make an official statement on the reports but CEO Tim Armstrong is said to believe both companies could benefit from a partnership.

Yahoo! CEO Carol Bartz refused to comment on the speculation at the company’s most recent earnings call last month.

“I can’t comment on rumours and I can’t talk about hypotheticals,” she said. “I’m not allowed to, nor should I as CEO.”

This story first appeared on newmediaage.co.uk

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