The shares had looked set to fall below $19.18 on Wednesday — the level they stood at on January 31 before Microsoft first announced a takeover bid for Yahoo. But thanks to a report in the Wall Street Journal, Yahoo shares jumped about 6 percent in electronic trading early in the morning.
If this reversal of fortune sounds familiar, it should. These days, Yahoo’s stock seems more likely to rise on speculation about possible deals than anything having to do with its actual business. Check back on a MediaFile posting from June 24 that points out Yahoo shares jumped 15 percent after TechCrunch reported that it was back in takeover talks with Microsoft.
Here’s what the Wall Street Journal is saying about the latest talks:
“Microsoft Corp., positioning itself for a new run for Yahoo Inc.’s search business, has approached other media companies in recent days about joining it in a deal that would effectively lead to Yahoo’s breakup, say people familiar with the discussions.
Microsoft has held discussions with Time Warner Inc. and News Corp, among others, say people involved in the talks.”