According to the Wall Street Journal, Miller has been talking to private equity folks and sovereign wealth funds to buy Yahoo for about $20 to $22 a share. Miller would have to raise about $28 billion to $30 billion.
This report has trial balloon written all over it. And the Journal notes that Miller would have trouble raising the dough.
However, going private would probably be a good idea. Yahoo could restructure, revamp and not worry about making quarters. Seagate went private in the last bust and them returned after restructuring.
There are a number of questions hanging around:
- Would Microsoft fund Miller?
- What sovereign wealth funds would be interested? Yahoo-Dubai-dot-com?
- Is Miller floating this story to actually raise the dough?
- Could Yahoo refuse a bid if it got one?
- What would Yahoo the private media company be able to do that the public one can't?
Also see: Icahn averages down on Yahoo; Searches for break even
Yahoo: Pondering Yang's replacement; The next move
Larry Dignan is Editor in Chief of ZDNet and Editorial Director of ZDNet sister site TechRepublic. See his full profile and disclosure of his industry affiliations.