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Yahoo To Reject Microsoft Bid
Many outlets are echoing a subscribers-only report in the Wall Street Journal that Yahoo's board has decided to reject Microsoft's takeover offer. The NYTimes offers the only other independent reporting so far confirming this claim. The report says that Yahoo will formally reject the offer in a letter on Monday, since they believe it "massively undervalues" the company. Microsoft offered $31 per share, a 62% premium on the stock price at the time, for Yahoo; but the latter believes that no offer below $40 per share is tenable. The AP has some background on Yahoo's options in responding to the bid.
Redmond weather reports are predicting thunderstorms, with a 90% chance of scattered chair showers.
Paleotechnologist and connoisseur of pretty shiny things.
Shouldn't that be Yahoo! ?
The only thing the parent needs is some cool, blue, semi-translucent baubles and a Star Trek reference.
Of course Google is not a real company. If Google was a real company, then Steve wouldn't be buying their competitor. They'd be buying Google.
It is dangerous to be right when the government is wrong.
Dogbert's strategy comes to mind.
Make a bid, which is rejected.
Generate a massive amount of negative media buzz, causing the stock price to fall.
Repeat the original bid "I offer $31 for your company", which is now accepted with relief "$31 a share is more than fair."
Dogbert: "Yeah, $31 'a share' would have been fair." implying they just sold the entire company for $31,being too paniced to read the fine print.
We'll have to wait and see how this high-stakes corporate waltz plays out.