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Yahoo faces lawsuits over rejection of Microsoft offer | |
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| Time: 00:01 EST/05:01 GMT | News Source: *Linked Within Post* | Posted By: Kenneth van Surksum | ||
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News over the weekend of two Detroit pension funds suing Yahoo for rejecting Microsoft's $41.2 billion offer, is the first bit of sanity that has come out of this whole story. The proposed class action, filed by veteran shareholder litigation firm Bernstein Litowitz Berger & Grossman, takes Yahoo directors to task for spurning the Feb. 1 offer and "pursuing all manner of value-destructive third-party deals." These pension funds are the only party who have the investor interests at heart. Regarding both Yahoo and Microsoft, it's hard to understand what they are thinking. Why would Microsoft pay a 60% premium for the much troubled search engine company? I understand that Microsoft basically wants to replace its own troubled MSN with Yahoo, but why overpay? I am sure that if it invested a fraction of this amount of money to generate more MSN traffic, things would improve. | ||
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| #1 By 1896 (68.153.171.248) at 2/26/2008 7:23:22 AM |
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Better late than never.
If was a Yahoo stockholder I would be outraged by the reasoning used by the board to reject the offer. Personally I still do not believe that Yahoo is worth this amount of money, less than ever for MS but I also did not see any reason for MS to invest in Facebook when they had Wallop that, at least in my opinion, has the best UI among all these "Social networks" apps. This post was edited by Fritzly on Tuesday, February 26, 2008 at 09:03. |
| #2 By 7390 (24.191.94.122) at 2/26/2008 9:52:28 PM |
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#1...it's is called user base and popularity..I have never heard of wallop before, nor do I care to know about it.
where is the "rolling eyes" emoticon when you need it |
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