Yahoo Board to Reject Takeover Bid From Microsoft

[jacksonm]

Yahoo’s board of directors plans to reject Microsoft’s $44.6 billion hostile bid with a letter Monday saying the offer undervalues Yahoo, a person familiar with the matter said Saturday.


http://www.nytimes.com/2008/02/09/technology/09cnd-yahoo.html?_r=2&ex=1360299600&en=0a10211874f4e291&ei=5088&partner=rssnyt&emc=rss&oref=slogin&oref=slogin


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[bwhhisc]

Playing hard to get! And securing their jobs or severence package at the same time no doubt.

[rhys]

Wow. Yahoo shareholders should be pretty pissed at the recklessness of its management to turn down a 60% premium to stock price on the day of the offer and then claim it is too low. If I offered someone on the forum $1.60 for every $1 they had, who would be so foolish as to turn that deal down.

[kenne]

I think their decision is entirely rational. In the short term the shareholders get a boost in return. But in the long term, yahoo stocks may grow better without microsoft. MS is out of tricks, its products are great cash cows but aging, and being a few years since last they wowed me with anything they did.

It would be irresponsible for Yhoo board director to sell without hard bargaining, given that Yahoo has plenty of cash and can survive the downturn well and stronger, and in the current economical environment, lack of debt financing is the main reason that no other bidder is available.

[jacksonm]

Wow. Yahoo shareholders should be pretty pissed at the recklessness of its management to turn down a 60% premium to stock price on the day of the offer and then claim it is too low. If I offered someone on the forum $1.60 for every $1 they had, who would be so foolish as to turn that deal down.


How bout you sell me all your IDNs at a 60 percent premium to what you paid for them?

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[bwhhisc]

How bout you sell me all your IDNs at a 60 percent premium to what you paid for them?.
LOL
That might not be too bad a deal if things look like they are going to hit rock bottom.

[Rubber Duck]

Wow. Yahoo shareholders should be pretty pissed at the recklessness of its management to turn down a 60% premium to stock price on the day of the offer and then claim it is too low. If I offered someone on the forum $1.60 for every $1 they had, who would be so foolish as to turn that deal down.

Well if they have called it wrong, at least 50% will sell to you, so what is the problem?

[mkellerman]

This is probably the first stage in negotiations.

[mulligan]

Seems to me that Yahoo have let it be know they are 'up for sale' and will just let the 'big boys' (maybe even a new player?) fight it out

[jacksonm]

Seems to me that Yahoo have let it be know they are 'up for sale' and will just let the 'big boys' (maybe even a new player?) fight it out

Good, maybe Virgin Media will step up :-)

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[mulligan]

I expect the final price to quite substantial.. a lot more substantial !

[jacksonm]

This is probably the first stage in negotiations.

Martin,
You set your homepage link to google.com when you responded to my comment on simplygeo.com:

http://simplygeo.com/2008/02/03/understanding-idn-traffic/#comments


Do you work for Google?

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[kenne]

Good, maybe Virgin Media will step up :-)

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Why Virgin media? I think right now the merger acquisition activities are shot because of CDO debacle. Microsoft knows it and hopes it gets YHoo at a steal.

[jacksonm]

Why Virgin media?

No particular reason, really, just that they are moving into lots of areas. Never mind :-)

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[mulligan]

Virgin? You know a virgin? Damn ... :)

[jacksonm]

Virgin? You know a virgin? Damn ... :)

I have heard rumours of unconfirmed sightings, but that's about it.

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[mulligan]

I have heard rumours of unconfirmed sightings, but that's about it.

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Damn it .. I have to change my underwear .. :p

[rhys]

Seems to me that Yahoo have let it be know they are 'up for sale' and will just let the 'big boys' (maybe even a new player?) fight it out
There are none