http://ift.tt/eA8V8J [at Barrons.com] - Shares of Yahoo! (YHOO) are down 12 cents, or 0.3%, at $40.63, after the company this morning said in a filing with the Securities & Exchange Commission that it netted $9.4 billion in proceeds from the initial public offering two weeks ago of Chinese e-commerce giant Alibaba Group Holding (BABA), selling 140,000,000 shares. The shares spiked briefly on chatter this morning that Yahoo! has been approached by Japan's Softbank (9984JP), spurred by media reports. A Bloomberg article late yesterday by Brian Womack reported that the company is "facing more pressure to sell the company or change how it manages cash," citing a letter to CEO Marissa Mayer and to Softbank chairman Masayhoshi Son, urging the two to merge. The article notes that Albert Saporta of Alternative Investment Management & Research SA sent a to Mayer and to Son urging a merger. Alternative Investment owns stock in Yahoo! and claims to represent a group of investors who also do. Today's chatter follows a letter to Yahoo! last Friday from activist shop Starboard Value LP suggesting, among other things, a merger with AOL (AOL). The same Bloomberg piece includes a video clip of Gene Munster of Piper Jaffray talking on Bloomberg TV to the network's Emily Chang about the matter, writing that the breakup of eBay (EBAY) and its PayPal unit announced yesterday makes a deal of some kind somewhat more likely than it was a week ago. Munster opined a merger with AOL would not be a good idea for Yahoo!.
from Yahoo! Finance: YHOO News http://ift.tt/1qVrosF
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from Yahoo! Finance: YHOO News http://ift.tt/1qVrosF
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