Yahoo Board to Reject Microsoft Bid
Posted by gasusan2005 on 02/9/08 in Microsoft
Well it looks as if Yahoo’s Board will be rejecting the bid from Microsoft Soon. According to Tech Consumer they will send out a letter to Microsoft with these reasons to reject the offer…
- Yahoo thinks Microsoft is trying to take advantage of Yahoo’s weak stock price and is saying that Microsoft wants to “steal” the company.
- Yahoo board member won’t consider offers below $40 a share, an extra $12 billion (quite the premium, considering the first offer was a 62% premium over Yahoo’s market value).
- Yahoo is effectively stalling while it considers an alternative of partnering with Google (ironically, a point that nullifies the original point of Microsoft’s offer not taking into consideration “risks” of regulation, considering the risks of regulation are higher with Google).
- Yahoo is hoping that Microsoft will not follow through with a hostile take over (even if Steve Ballmer said as much in his original letter). The reasoning here is that important engineers would not be willing to cooperate in a hostile take over, and regulators may be more easily convinced that this deal is anticompetitive if hostile.
Source: Tech Consumer
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Written by gasusan2005 · Filed Under Microsoft
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