Microsoft’s last chance for Yahoo takeover
Steven A. Ballmer, Microsoft’s chief executive, told employees on Thursday that the company would announce in “short order” which of three paths it would choose in its pursuit of Yahoo. The options, Mr. Ballmer said in a meeting with employees, were completing a negotiated deal, pursuing a hostile takeover or walking away. Yahoo has rejected Microsoft’s cash-and-stock offer, initially valued at $31 a share but currently worth about $29.48, saying it substantially undervalues the company. But Jerry Yang, Yahoo’s chief executive, has said his company is not opposed to selling to Microsoft for more.
In recent days, Mr. Ballmer has been trying to win the support of Yahoo shareholders by floating the possibility of raising Microsoft’s offer to as much as $33 a share, according to people briefed on the discussions. But some Yahoo shareholders, as well as its management and board, are holding out for more, these people said. “I know exactly what I think Yahoo is worth to me,” Mr. Ballmer told employees. “I won’t go a dime above, and I will go to what I think it’s worth if that gets the deal done.” Mr. Ballmer is under pressure to decide quickly, in part because a deadline he imposed on Yahoo to reach a negotiated deal passed five days ago. Mr. Ballmer had threatened to start a proxy fight to oust Yahoo’s directors if the deadline was not met.
Source: NY Times
Comments(16)
Yahoo is a huge PoS. Don’t do it bill!
Desperate MS
Uh… last I knew, Vista was selling quite well. Ah well, Microsoft. Looks like hostile take over time.
hostile takeover? is MS going to rush in with a platoon of master chief, guns a blazing?
Isn’t selling Windows kind of a hostile takover as well? I mean, sell Yahoo a couple of copies and then charge them for every patch and service pack
What do they mean by a hostile takeover? “Mr. Ballmer had threatened to start a proxy fight”. What exactly does that mean? Just curious…
at least its not Apple
Yahoo sucks…
Bill is taking it down!:D
(Hostile Takeover)- It means MS is going to the shareholders instead of the VP’s, CEO, etc. (Proxy Fight)-Ballmer will make an offer to Yahoos shareholders in hopes they will like the deal and kick out the current board of directors for people who will accept the deal.
@6
Hostile takeover means that they’ll start buying up the shares thats on the open market (and approach the individuall shareholders without involving the board of the company) and get a majority of them. I guess Yahoo’s owners were stupid enought not to keep atleast 51% for themselfes.
The specific term proxy fight means that they’ll get enough shares, usaually a simple majority (>50%) to switch boardmembers to others that are willing to sell the company.
It’s easy to stop MS , But nothing for free.
Go for it Steve. Yahoo had their chance and they are not worth more than the price MS is offering. (And please when you’ve taken over Yahoo, ditch Yahoo Messenger and force them to move to WLM making WLM the biggest IM service in the world!)
If M$ buys Yahoo, you will need XBOX controller to use Yahoo.
“Games for Windows”
“Internet for Windows”
Yahoo better be careful; it’s a known fact that Ballmer will start throwing chairs ’round the premises if antagonized. Heed this ancient saying:
Resistance is futile. Your life as it has been is over. From this time forward, you will service us.
@14 Pink torpedo
“resistance is futile.”
- Yes your right Microsoft is the borg…
“Nothing here is what it seems. [Yahoo] is not the plucky hero, [Microsoft] is not some evil empire; this is not the grand arena.”
Everybody always says Micro$oft because they think they are greedy, but Yahoo has got them beat easily. They are turning down an offer that would make them a lot more money than their precious company is worth simply because they want more?! Meh, I already hated Yahoo as it is…