TheStreet.com: Overture Jumps as Yahoo! Grabs Cash

Is Yahoo! making an overture for Overture Services? That's the burning question Friday morning, following Yahoo!'s late-night announcement Thursday that it had priced $750 million in convertible bonds.

The Internet media and services company, which has $1.5 billion in cash on and and generated $221 million in free cash flow in 2002, wouldn't appear to require more cash unless it were about to make a major acquisition.

Or perhaps the recent rumours were accurate, and Yahoo! is in the process of buying Espotting. The other possibility in this space would be FindWhat. Personally I fully expect Yahoo! to buy one of these pay-per-click players in the next few months. My money is on it being Espotting.