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Microsoft Offered $40 a Share For Yahoo
fistfullast33l writes "Bloomberg is reporting that a recently unsealed court case by shareholders against Yahoo reveals that Microsoft offered $40 a share for the Internet search company in January 2007 and Yahoo turned it down. We've extensively discussed Microsoft's bid for Yahoo earlier this year for $33 a share, which was rebuffed. Investor Carl Icahn has launched a proxy fight against Yahoo over the spurning of the Microsoft deal." CWmike notes Computerworld's coverage of the revelations: "The complaint places much of the blame on [Yahoo CEO Jerry] Yang, describing him as someone with a 'well-known' antipathy toward Microsoft who acted out of a personal interest to keep Yahoo independent. Something wrong with that? Oh, yeah... public company."
Yahoo would not have survived to 2009 if all it's employees quit. That's why Yang made sure $2 billion of the purchase price would go to employee severance plans. There's probably been some disruption anyway. Wouldn't you have a resume on the street with all of the FUD and BS being flung? The severance plans gave employees a reason to stick around and be fired by M$, or just keep on working if the deal fell through.
Painting this to be a personal thing by Yang is nuts. Yahoo and M$ were getting along famously until M$ decided to launch a hostile takeover.
/sigh I have no problem with your mention of Google, but Apple... Really? Like for realsies? Sorry bro, I'm into computers... Not toys.
On the Oregon Cost born and raised, On the beach is where I spent most of my days
Welcome to Slashdot to see people who do not have a basic grasp of finance or business to rant about it.
For one, the majority of shares in most public companies today are held by institutional investors. The next big share holders tend to be PE folks (like Icahn, KKR etc), followed by insurance companies, hedge funds etc.
Secondly, you cannot have your cake and eat it too. If you went public, you did it for the money - and you can't cry foul when you do something stupid and when people hold you accountable. If you wanted your freedom, you should have stayed private. Sad, but true.
Now, one of the biggest advantages of going public is that you raise capital - and when investors put in their money, they expect returns. Now, some people like Icahn are just vultures who are looking for an excuse to make a quick buck, but most other investors are not happy, either, with the way Yahoo handled the situation.
Like or dislike does not enter business. If it makes business and strategic sense, you do it. If it does not, you don't. If you are interested in discussing morals, ethics and "feelings", you should have kept the company private and done whatever the hell you wanted. I haven't seen anything that indicates that a merger between Yahoo and Microsoft will be a bad thing. It may throw in a little more competition; however I can see why Google is worried - they run the risk of being called a monopoly if Yahoo gets bought out. At the end of the day, once you have shareholders, you have a responsibility to them. You may not like it, but you should have thought of it before you went after the greenbacks.
A HAHAHAHAHAHA. You honestly believe that after some pending MS collapse that 3 different linux distributions will have the OS top market share? And you got modded Informative...
The level of self affirmation on this site has hit a new level.
Office 2007 is actually very successful. Don't allow yourself to be manipulated by the Slashdot anti-Microsoft sentiments.
I also found the assertion of the GP hilarious. Do you interpret this graph as showing Microsoft's impending doom? If you do, you need glasses.
I use Linux at home and I got to agree that he's living in a fantasy land. Linux has less than 1% of the desktop market last I saw. When at least 10% of the desktops sold have Linux on them, Ill start to believe in Microsoft's death. Hell, their nearest competition is Apple at some 7%
And at one time, Netscape had a monopoly on web browsers. Sure, it took all sorts of illegal actions on Microsoft's part to obliterate that monopoly, but 8-9 years ago, if you had said that another browser would start to seriously displace Internet Explorer, you'd be laughed out of the room.
Now Firefox/Mozilla/Netscape are gaining ground monthly - while still battling the "same old" (actions) from Microsoft. At the current rate, Internet Explorer will soon no longer be the browser holding majority marketshare.
What makes you think that Apple (gaining market share almost monthly) or Linux (slowly gaining market share for most of the months over the past 2 years) will not eventually reach the same point?
Here's the beauty of it that most people dont think of. For the most part (for the average user) a web browser is a web browser - if it works (and they all do - to at least the extent that the average user needs), then it doesnt matter too much which they use, so why not use the one that their tech/computer saavy friend/some site advertised to them? And in doing so, nothing has to be changed and nothing else needs to be written for it.
Now, when it comes to computers, Apple is beating the odds in that there are more things available for Windows... but for how much longer? The more market share Apple or Linux or whatever gets, the more stuff that will be written for it. That means less reasons not to switch (added to all of the many reasons cited on /. every day on why people should).
See the difference? Browser share gains are a relatively flat "curve" because of that... but soon, the OS curve will change from somewhat flat gain by non-Windows, to an actual curve (higher number of people switching each month) for whatever OS starts to truly compete with Windows, simply because as the percentage of users grows, the software to run on the OS will increase, fueling an even larger percentage per month to switch.
Other things that will help increase that uptake are things like the growing interest in OpenOffice and the growing defection from IE to Firefox or Safari.
Dont say it wont happen... it already is.
StarTrekPhase2 - The Five Year Mission Continues!