Filed under: Deals, Internet, Microsoft (MSFT), Yahoo! (YHOO)
With the proposed Microsoft (NASDAQ: MSFT) and Yahoo! (NASDAQ: YHOO) merger grabbing headlines, for investors looking at the next internet company that may be put in play, have a look at CNET Networks (NASDAQ: CNET). CNET shares a lot of similarities with Yahoo!, the most glaring being the continued underperformance of both the stock price and the company in general.
About two weeks ago, federal antitrust regulators cleared hedge fund Jana Partners LLC’s increased stake in on the internet media company. Jana Partners leads an investment group that stated last week it now owns 10.6% of CNET’s voting stock, up from 8.1%. Antitrust law requires companies and other investors to seek antitrust approval when they cross certain ownership thresholds.
The timing is interesting. If you are trying to profit from M&A in the internet space, take a look at CNET. It might be the next company to be acquired.
Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer has no positions in any stock mentioned as of 2/3/08.
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