Financial News Story of the Day – Yahoo Buyout More Likely by the Day
Yahoo, the internet search giant that notoriously passed on a Microsoft buyout of $31 a share, is set to make news again as new suitors are preparing to acquire the company. According to inside rumors, Alibaba, Softbank Corp, Blackstone and Bain Capital might make a run at buying Yahoo together. Microsoft, TGP Capital and Silver Lake are also in the mix, thanks to Yahoo’s potential to grow in China. Since representatives from every company are denying the possibility of a buyout, that pretty much means it is guaranteed to happen (source: Bloomberg.com).
Excerpt: “Alibaba is seeking to buy back the stake in its company that Yahoo owns. Softbank, meanwhile, wants to acquire the stake in Yahoo Japan, one of the people familiar with the matter said. In the proposed deal, Blackstone and Bain would take control of the U.S. operations, the person said.”
Personal Finance Tip of the Day – How to Maximize Your Retirement Nest Egg
If you have a chance, you’ll love reading Neal Frankle at WealthPilgrim.com – he really knows his stuff! Neal had a great post recently on making every dollar in your retirement fund count and shows you ways to stretch your nest egg, including cutting back withdrawals or delaying your withdrawal period (source: WealthPilgrim.com).
Excerpt: “Assume you are 65 now, you have $1 million in the nest egg and you want to draw $60,000 each year in retirement. Assume you also want to bump up your withdrawals by 3% every year to adjust for inflation. According to Investor’s Business Daily, your plan blows up in 22 years even though you invest in growth mutual funds. That’s because you run out of money, and its back to work at Flippy Burger for you – at 87 years of age. Ouchie.”
Daily Finance Summary – Stocks Await Jobs Data
Stock movements were mostly uneventful and flat today as everyone is waiting for tomorrow’s jobs report. Unemployment continues to be one of the mainstay results of the recent recession, and we may already be in another one.
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