Jon Miller, former CEO of AOL, is in the process of raising funds to try to buy Yahoo, according to a report in the Wall Street Journal.
The reports that Miller believes he can do a deal that would be worth around $20 to $22 a share to Yahoo shareholders, which means raising about $28 billion to $30 billion to purchase the entire company.
It is understood that Miller has met with Yahoo in the last few weeks as part of the company’s search for a new CEO.
Miller was almost appointed to the Yahoo board earlier this year, however, his nomination was vetoed at the last minute due to a non-compete clause with AOL/Time Warner.
The report comes at the end of a turbulent few months for Yahoo!, and follows Google’s termination of a search advertising deal which would have seen Google ads displayed around Yahoo!’s search results (see Google ends Yahoo! ad deal).
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