wifi
02-11-2008, 09:35 AM
Go yahoo! don't sell out to microsoft :-P lol they rejected the offer of their $44.6 billion bid saying they want some more money per share so it'll cost around $12 billion more.
Yahoo to Reject Microsoft Bid: Reports
Yahoo! Finance
In a bid to remain independent, Yahoo plans to reject Microsoft Corp.’s unsolicited takeover offer, according to reports on the Wall Street Journal’s web site.
Quoting sources familiar with the situation, the Journal reports that Yahoo’s board feels the offer of $31 per share “massively undervalues” the company. A letter spelling out the position is expected to be sent Monday. Yahoo also expressed concern that Microsoft’s offer does not account for risks to Yahoo should the deal be overturned by regulators.
The Journal source said the company would be unwilling to consider an offer below $40 per share, which would represent a $12 billion increase over Microsoft’s original $44.6 billion bid. It is unclear if Microsoft would be willing to increase its bid by such a significant amount.
A Yahoo representative said the company would not comment on rumor or speculation and reiterated that the board is evaluating all its strategic options.
The two companies have been in discussions about an alliance or merger for more than a year. Yahoo has long hoped to remain independent, believing it can reverse its fortunes and lift its flagging stock price.
In the summer of 2007, investors believed it was possible as well. Yahoo co-founder Jerry Yang replaced Terry Semel as CEO and announced he would unveil a new strategic plan for the company within 100 days.
“There will be no sacred cows and we need to move quickly,” he said. But, after the 100 days – and then some – passed, investor patience wore thin, driving the stock lower.
story from: Yahoo! Finance Breaking News (http://biz.yahoo.com/special/release020808.html)
anyone think microsoft will make a higher bid to get yahoo or just give up? :D i hope they give up otherwise they'll get to much power :-P
Yahoo to Reject Microsoft Bid: Reports
Yahoo! Finance
In a bid to remain independent, Yahoo plans to reject Microsoft Corp.’s unsolicited takeover offer, according to reports on the Wall Street Journal’s web site.
Quoting sources familiar with the situation, the Journal reports that Yahoo’s board feels the offer of $31 per share “massively undervalues” the company. A letter spelling out the position is expected to be sent Monday. Yahoo also expressed concern that Microsoft’s offer does not account for risks to Yahoo should the deal be overturned by regulators.
The Journal source said the company would be unwilling to consider an offer below $40 per share, which would represent a $12 billion increase over Microsoft’s original $44.6 billion bid. It is unclear if Microsoft would be willing to increase its bid by such a significant amount.
A Yahoo representative said the company would not comment on rumor or speculation and reiterated that the board is evaluating all its strategic options.
The two companies have been in discussions about an alliance or merger for more than a year. Yahoo has long hoped to remain independent, believing it can reverse its fortunes and lift its flagging stock price.
In the summer of 2007, investors believed it was possible as well. Yahoo co-founder Jerry Yang replaced Terry Semel as CEO and announced he would unveil a new strategic plan for the company within 100 days.
“There will be no sacred cows and we need to move quickly,” he said. But, after the 100 days – and then some – passed, investor patience wore thin, driving the stock lower.
story from: Yahoo! Finance Breaking News (http://biz.yahoo.com/special/release020808.html)
anyone think microsoft will make a higher bid to get yahoo or just give up? :D i hope they give up otherwise they'll get to much power :-P