Reuters’s Nadia Damouni and Jennifer Saba this afternoon report that AOL‘s (AOL) chief executive, Tim Armstrong, has been meeting with shareholders to discuss selling the company to Yahoo! (YHOO), citing multiple anonymous sources.
Sources say Armstrong has discussed how to carve up AOL and what the separate pieces might be worth. A price is not quoted in the article. One source argues that Armstrong doesn’t want to be doing the same job as he is now in another 18 months. “He wants to be out,” says the source.
AOL shares closed down 9 cents, or 0.7%, at $13.15, and were unchanged in late trading, giving the company a market capitalization of $1.4 billion. Yahoo stock closed down 9 cents, or 0.6%, at $15.77, giving it a market cap of $19.91 billion.
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