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Yahoo Said Rejecting Microsoft | |
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| Time: 15:28 EST/20:28 GMT | News Source: eWeek | Posted By: Kenneth van Surksum | ||
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Yahoo Inc's board believes Microsoft Corp's unsolicited bid of $44.6 billion to acquire Yahoo "massively undervalues" the company and directors are set to reject the offer, the Wall Street Journal reported on Saturday, citing an unnamed source. Microsoft's $31 per share offer fails to take account of the risks that a merger between the world's largest software maker and Yahoo would be rejected by regulators, the paper reported, citing "a person familiar with the situation." A spokeswoman for Yahoo, a diversified Internet media company, declined to comment on the proceedings of the company's board of directors. | ||
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| #1 By 20505 (216.102.144.11) at 2/9/2008 6:15:47 PM |
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Ho Ho Ho.
MicroHoo is now a forgone conclusion. Watch what happens to the board if they botch this one. |
| #2 By 3653 (65.80.181.153) at 2/9/2008 6:54:04 PM |
| Is anybody surprised by this? Not a soul. Any half-ass Board would at least try to get more money out of the deal. The only question, is how much Microsoft was originally willing to pay above $31/share. And they aren't counting their pennies in the bank, to determine a counteroffer. They already played this chess match, before the pieces were even put on the table. |
| #3 By 1896 (74.166.235.69) at 2/10/2008 7:02:51 AM |
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Problem is that MS shares are at $28.56 so the amount they need to borrow is already higher than when they made the offer; I can only repeat what I said before: forget yahoo and invest in other areas!
"massively undervalued", yes sure. If MS says no thanks Yahoo shares will sink faster than the Titanic. This post was edited by Fritzly on Sunday, February 10, 2008 at 07:03. |
| #4 By 54556 (68.35.10.96) at 2/10/2008 12:47:13 PM |
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#2 "Is anybody surprised by this? Not a soul."
You said back on 2/1 "I'll reserve judgement on the deal, as its just too large to get the mind around." Please make up your mind minimoore. |
| #5 By 3653 (65.80.181.153) at 2/10/2008 8:34:15 PM |
| notketchum, you might take a moment to look at a calendar. It is now 2/10. If I need to elaborate further, please let me know. |
| #6 By 2332 (76.19.64.137) at 2/10/2008 11:27:52 PM |
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There is going to be a shareholder revolt. I wouldn't be surprised if Yahoo had board changes in the near future.
$31/share was a BLOWOUT offer from Microsoft. They rejected it not for good financial reasons, but for ideological reasons... and they are going to get punished for it, not just by the shareholders, but by the market. I expect to see *massive* declines in Yahoo's share price tomorrow. They closed on friday at about $29/share, up from about $18/share just a week ago. Expect to see their shares bottom out over the next couple of days... my guess is that they'll hit $15/share. If you're a shareholder in Yahoo and your shares when from $18 to $29, could have hit $31 (and more), and now you're staring at $15... game over. There is no reason to continue to invest in a company so mismanged as to allow something like that to happen. This post was edited by RMD on Sunday, February 10, 2008 at 23:28. |
| #7 By 2960 (72.196.195.185) at 2/11/2008 8:07:39 AM |
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IMHO, best thing that ever happened to Microsoft and it's customers.
Microsoft would have been so nervous about re-covering their 40 billion quickly that heavens knows what would have happened to product prices from Microsoft. Microsoft is not used to owing money. I feared for how this company would have reacted to this new 'thing' known as debt. TL |
| #8 By 28801 (65.90.202.10) at 2/11/2008 8:41:33 AM |
| <daffyduck>Debt! Schmet! As long as I'm rich...</daffyduck> |
| #9 By 54556 (68.35.10.96) at 2/11/2008 9:13:12 AM |
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#5
9 days, 10 days, even 14 days...it doesn't matter |
| #10 By 3653 (65.80.181.153) at 2/11/2008 12:41:30 PM |
| provide some details or a question notketchum, so the rest of us (ME) can tag along with your logic. |
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