SUNNYVALE (AP) – Investors were running up the price of Yahoo shares Thursday after a report saying AOL and a group of private equity firms may bid for the Web company.
The stock climbed $1.19, or about 8 percent, to $16.44 in morning trading Thursday.
The Wall Street Journal reported on its website after the close of trading Wednesday that AOL Inc., Silver Lake Partners and Blackstone Group LP are exploring a bid. The report says two or three other firms could also be interested in the deal.
The newspaper said the talks have not yet involved Yahoo.
AOL Inc. and Yahoo Inc. have declined to comment.
A deal would marry two companies that haven’t been able to improve their financial performance amid relentless competition from other online destinations like Google, Facebook and Twitter.