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Author: newsreporter Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 15585  
Subject: Analyst comments Date: 11/30/2011 3:11 AM
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Gabelli Says Buy, Continues To See Takeout ‘Catalyst’
http://goo.gl/W2KBD


Regarding last night’s report by DealBook’s Michael de la Merced and Evelyn Rusli that Microsoft (MSFT) is teaming up with Silver Lake and other private equity shops to buy a chunk of Yahoo! (YHOO), the sales team at Gabelli & Co. today sent around a reiteration of the firm’s Buy rating on the stock, as assigned by analyst Brett Harriss.

Harris didn’t issue a formal note, but the desk’s tidbit today relates: “Based on the following sum-of-the parts, we calculate a 2012 PMV of $26? for Yahoo! The Japanese assets of Yahoo! are worth $4.85 per share, while the Alibaba Group Holdings are worth $11 per share, and the company has $2.10 per share in cash, leaving a valuation of $7.80 for the U.S. business.”

The firm “expect full acquisition or a break up of the company to be a catalyst,” the desk wrote.

Interestingly, AllThingsD’s Kara Swisher has been keeping tabs on venture capitalist and Netscape founder Marc Andreessen, who some believe could come aboard as a board member or even as chairman in a private equity investment.
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