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AOL Ripe For Takeover, But Who Wants It? Still, Analysts Speculate Viacom, Disney among names most mentioned, but no one stands out.(A)
Byline: DOUG TSURUOKA
AOL Time Warner Inc. could be ripe for a takeover, analysts say. But potential suitors are scarce.
Shares of the world's biggest media firm have fallen over 75% in price since America Online merged with Time Warner in January 2001.
The stock's 26-month slide has lopped off $200 billion from the company's market value. Shares trade near 11.
Trouble is, no one wants AOL for now. Most analysts say the war with Iraq and a shaky economy are raising too many questions about such a move. And Wall Street's dim view of AOL could make it an albatross around a merging company's neck.
It's more likely, analysts say, that AOL will continue to focus on operations that may lead to a turnaround.
"This is not an M&A environment. This is a cover-your-tail environment," said Scott Cleland, an analyst with the Precursor Group. He doesn't own any AOL shares. "The uncertainty with the war and economy are still very high. It's just a real tough time to be opportunistic in terms of a takeover."
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