As Yahoo's stock reaches new lows, a private-equity fund that owns a percentage of the internet company's stock has suggested a deal to sell to Microsoft for $22 a share

As Yahoo stock reaches new lows, it appears a private-equity fund that owns a small percentage of Yahoo's stock has proposed a new deal for selling the company to Microsoft.

Mithras Capital Partners, which reportedly owns more than 1.9 million shares, or .14 percent of Yahoo, suggested a new deal on Thursday to sell the company to Microsoft for $22 a share, a 74 percent premium on Yahoo's current stock price, Reuters reported. A Mithras Capital partner plans to send a letter proposing the deal to Microsoft and Yahoo Thursday night, Reuters said.

Under the deal, the software giant "would unload Yahoo's Asian assets and non-search businesses, extract $3bn [£1.7bn] worth of cost savings, and receive $2.8bn of tax benefits," Reuters said. In other words, the software giant would pay $10.3bn for Yahoo's search business.

In May, Microsoft walked away from its buyout offer of $47.5bn to snap up all of Yahoo, only later to return with a partial buyout offer of $9bn to acquire just the company's search assets.

The internet company on Thursday dipped for the first time into the $12-a-share range, ending the day at $12.65. That followed Wednesday's crossing into the $13-a-share range. Analysts have noted that these crossings into new dollar ranges are psychological landmarks for investors.

Copyright © 1995-2009 CNET Networks, Inc. All rights reserved
ZDNET is a registered service mark of CNET Networks, Inc. ZDNET Logo is a service mark of CNET Networks, Inc.