Saturday, February 09, 2008

Yahoo to reject Microsoft bid

This is proving to be theater of the first order.

In another account I read, Yahoo wants $51b at least.

Jesus H Christ with a thick wallet these people play with large fucking sums of money. Wonder if they can spare a little for a poor blogger?
Internet giant Yahoo's board has decided to reject Microsoft's 44.6 billion dollar takeover bid, an informed source told AFP Saturday.

The source confirmed an earlier Wall Street Journal report that Yahoo's management believes the Microsoft offer, which would bring together two top names in online computing, massively undervalues Yahoo.

The Journal said Yahoo's board also believes the Microsoft offer, at 31 dollars per share, does not account for risks facing Yahoo if it pursues a deal that might be ultimately blocked by government regulators.

"Yahoo's board believes that Microsoft's is trying to take advantage of the recent weakness in the company's share price to 'steal' the company," the newspaper said on its website, citing an unnamed source.

"Yahoo's board appears to be betting that Microsoft doesn't want to 'go hostile' and try to acquire the company against the wishes of management and the board," it said.

A person knowledgeable with the situation told AFP that the Journal report was generally in line with the Yahoo board's intentions.

This is just opinion. No facts. Microsoft will get Yahoo. Microsoft always gets what it wants.

Via AFP.

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