Microsoft bags it with Yahoo…at least for now
Microsoft has decided to not go after Yahoo…at least for the moment. Yahoo wouldn’t budge from their ‘bottom dollar’ price, and Micro$oft (nope, not a typo) would only go so high.
Methinks this isn’t the last we will hear of this. Yahoo corporate (in this case Yahoo founder and CEO Jerry Yang) played a little too hard-to-get, but the Yahoo shareholders may think a little different of all this once they realize they may have given away their best chance for the big bucks.
See the C-Net story here.
ZDNEt has a blog on the topic here.
Big mistake.
Yahoo is hurting, their shareholders are royally ticked off, and their market cap is falling!
How much did they want per share??? Double what they’re worth on the market? Now way. Microsoft is smart. They’re not going to buy a Cavalier for the price of a Vette.
I’m a little surprised that MSFT backed off as they did. There are other methods of getting Yahoo. Hostile takeover anyone?
Moving forward, here’s what I think MSFT will do:
- They are going to reach out to the shareholders!
- These are the people paying the highest price and hurting the most.
- Shareholders are not happy with Yahoo. More so, they were excited to see the Microsoft buy out!
- MSFT will go out to vote via shareholders. They will push for a proxy vote and have the shareholders (hopfully) hand over the company.
Otherwise…
Yahoo will keep going downhill. MSFT will sit tight and get an even better deal in a month or so.
Bill Kleyman
Business Development Coordinator
Performance Network Solutions
Offices in Chicago and Milwaukee
Phone: 847-647-2430
bill.kleyman@performancens.com
http://www.PerformanceNS.com