Microsoft Set to Raise Yahoo Offer?
Citigroup yesterday made an interesting move when it upgraded Yahoo (YHOO) stock to a “buy” from “hold”, citing its opinion that Microsoft will have to tender its offer if it wants to seal the deal and buy out Yahoo.
Even though Yahoo currently has no other competing bidders right now with Microsoft, it is believed that Yahoo is aggressively pursuing alternative routes for the company.
The most likely outcome is that a marriage between Yahoo and Microsoft will occur, with one alternative being perhaps Yahoo tying up somehow with Time Warner.
Citigroup’s new target for Yahoo stock is now $34 from $31.
Do you really think that MS will finally buy Yahoo? Is that a good thing?