SAN FRANCISCO - Yahoo Inc. Chief Executive Jerry Yang has gotten what he wanted: a chance to prove his company is worth more than the $47.5 billion that Microsoft Corp. offered to buy the Internet pioneer.
It will be a daunting challenge, as Yang will be pointedly reminded Monday when investors are expected to show how little they think of Yahoo without a takeover bid on the table. Faced with resistance from Yang and the rest of Yahoo's board, Microsoft withdrew its offer over the weekend.
[From Yahoo CEO Yang is now on the hot seat - U.S. business- msnbc.com]
Let the lawsuits begin.
Jerry Yang just turned down an offer to buy Yahoo for $47.5 billion. This was the second offer, which was still lower than what he counter offered to the original bid. Microsoft walked away, since their second offer was already a stretch.
The anti-Microsoft camp is delighted, being too god damn stupid to realize that this could easily be the end of Yahoo as we know it. On Monday morning Yahoo is going to take a nasty dive, which will trigger the first shareholder lawsuits against Yahoo for not doing what was in the best interest of the shareholders. Microsoft is going to recover a little bit from the egg in their faces from three months of saber rattling.
And the next high profile company that receives an unsolicited offer from Microsoft is going to be a hell of a lot more receptive about it than Yahoo. The problem right now is that even if somebody were to step up and offer more than the $47.5 billion for Yahoo, it would be a stupid deal. There is no way the company is worth half of that.
0 comments:
Post a Comment