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Microsoft to Yahoo!: You've got 3 weeks before we get hostile
Essentially, Ballmer told the board that they've got 3 weeks to accept Microsoft's offer, currently valued at $42 billion in cash and stocks. If the board refuses, Microsoft will take the offer directly to Yahoo!'s shareholders and nominate a slate of board members to replace the current board.
The original offer was 62% higher than Yahoo!'s closing share price on January 31, one day before the offer was made. Ballmer says the goal was to facilitate a "speedy and ultimately friendly transaction." Since that hasn't happened, Ballmer indicates Microsoft might be willing to get a little less friendly, and suggests that Microsoft would drop its offer price if the company has to resort to a proxy contest.
Comments
6
Subscribe to commentsbraaakApr 5th 2008 9:04PM
MSFT should lower their offer if they don't get Yahoo to agree tomorrow. YHOO's mgmt and board are being quite irresponsible.
TomheiversApr 5th 2008 9:22PM
But they just want MOAR money :(
MarkApr 6th 2008 8:08AM
I hope Google buys them. Can you imagine Ballmer's reaction, his head would probably explode.
FranklinApr 6th 2008 8:21AM
Google probably won't (or can't) buy Yahoo. But I wouldn't be surprised if somebody other than Microsoft buys Yahoo. The fact that Microsoft is trying to make an aggressive move for Yahoo is only making Yahoo more attractive for another, probably more desirable suitor to make a bid. It would not surprise me if News Corp. or a Chinese or a Russian company bought Yahoo. If it turns out to be either of the latter two, that would send shockwaves throughout the Internet industry, and it would also hammer in the thought that Microsoft is irrelevant when it comes to the Internet.
TranscontinentalApr 6th 2008 8:21AM
I'd be surprised anyone else than Microsoft be ready to pay $42 billion for Yahoo! at this time! That's why they started high :)
ItiroApr 7th 2008 7:44AM
"You will be assimilated"