Ex-AOL CEO Raising Funds to Buy Yahoo?

The Wall Street Journal is reporting that former AOL CEO Jonathan Miller is trying to put together enough money to buy Yahoo.

Miller has been talking to private equity investors and sovereign wealth funds for months in hopes of raising money for a Yahoo deal, and it is unclear whether the talks have progressed or are just continuing.

The story says 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.

Miller almost got appointed to the Yahoo board earlier this year, when he was on an Icahn-backed slate of alternative board members...his nomination was nixed at the last minute due to a non-compete clause with AOL/Time Warner.

Meanwhile, Yahoo’s stock is up about 11 percent on this news.

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