Yahoo and Microsoft shares rose Wednesday in the U.S. stock market after a news report said that the software giant has approached other median companies about a joint bid for the Internet search pioneer.
The Wall Street Journal reported Wednesday that Microsoft has talked with News Corp., Time Warner and other conglomerates about a way to complete an acquisition deal it first proposed to Yahoo five months ago but ultimately withdrew in May.
Microsoft would buy Yahoo's search business, while the rest of the Silicon Valley company would be combined with another, like News Corp.'s Myspace and Time Warner's AOL, according to the report.
However, the report indicated that Microsoft may be having difficulty finding a partner although the talks were only in preliminary phase.
The report about Microsoft's new effort added another twist to what has become a long struggle for the software giant to take over Yahoo, as it tries to challenge Google's dominance in the Internet search and advertising market.
Microsoft made an offer to buy out Yahoo for 47.4 billion dollars in February, but was repeatedly rejected by Yahoo's board of directors, who argued that the price was too low.
Source:Xinhua
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