A view from a stock market watcher:
“The strategic necessity here is for this company to merge with Microsoft,” Larry Haverty, a fund manager at Gamco Investors Inc. in Rye, New York, said in a Bloomberg Television interview. Gamco manages about $24 billion, including Yahoo shares. “This is just unmitigated good news for the Yahoo shareholders.”
Microsoft and Yahoo trail Google, which controls more than 60 percent of the Internet-search market in the U.S. Microsoft has said that while it’s open to a search-ad deal with Yahoo, it isn’t interested in buying the company outright. Microsoft bid as much as $33 a share for Yahoo this year, and Yahoo now trades at less than a third of that value. Microsoft may end up paying between $15 and $18 for Yahoo, Haverty said.
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