AOL CEO Tim Armstrong has reached out to Yahoo on behalf of Verizon for a possible acquisition, Bloomberg’s Scott Moritz reported Monday.
The report said Armstrong is reaching out “informally,” and will act on behalf of AOL’s parent company Verizon, whose CEO Lowell McAdam expressed interest possibly acquiring Yahoo during CNBC Jim Cramer’s “Mad Money.”
There haven’t been any formal talks at this point between the two companies, but Armstron is “taking a lead in preliminary discussions,” the report added.
Verizon CEO McAdam strongly hinted that his company’s interested in a Yahoo deal during Friday’s “Mad Money,” saying,
“We have to understand the trends. But then at the right price, I think marrying up some of their assets with AOL and the leadership would be good.”
Yahoo said during its earnings call last week that it would explore a possible sale of its core internet business, when it said in a statement it would engage in “qualified strategic proposals.”
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