Citigroup said it is likely Microsoft Corp will raise its $31-per-share offer for Yahoo and upgraded Yahoo shares to "buy" from "hold."
The brokerage also raised its price target on Yahoo's stock to $34 from $31, saying it believed Microsoft remained committed to its offer and "is capable of and willing to" increase that bid to conclude the deal.
"While we continue to see no other competing bidders, we believe Yahoo is aggressively pursuing strategic alternatives," analyst Mark Mahaney said in a note to clients.
One possibility is a tie-up with Time Warner, whereby Time Warner would contribute its online content assets to Yahoo in exchange for a stake, the analyst said.
"We believe this could serve as a forcing function to a higher Microsoft bid."
View: Reuters
The brokerage also raised its price target on Yahoo's stock to $34 from $31, saying it believed Microsoft remained committed to its offer and "is capable of and willing to" increase that bid to conclude the deal.
"While we continue to see no other competing bidders, we believe Yahoo is aggressively pursuing strategic alternatives," analyst Mark Mahaney said in a note to clients.
One possibility is a tie-up with Time Warner, whereby Time Warner would contribute its online content assets to Yahoo in exchange for a stake, the analyst said.
"We believe this could serve as a forcing function to a higher Microsoft bid."
View: Reuters
Their excuse was "We are facing a sudden increase in the number of transactions." WTF..! I have decided to close all 3 of my Citi accounts and be done with the damn bank. I am also going to ask them the interest loss and also the interest I have to due to the money coming in late.
Their excuse was "We are facing a sudden increase in the number of transactions." WTF..! I have decided to close all 3 of my Citi accounts and be done with the damn bank. I am also going to ask them the interest loss and also the interest I have to due to the money coming in late.
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