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Yahoo Rejects Another Bid From Microsoft, Icahn

Posted by Soulskill on from the is-that-your-final-answer dept.

Last night Yahoo rejected another offer for its search business from Microsoft and investor Carl Icahn. The proposal also included conditions that would have required the replacement of Yahoo's top management and board of directors. This is not the first time Icahn has pushed for such a measure. Quoting: "Yahoo said in rejecting the offer it told Microsoft it was willing to sell the entire company for at least $33 a share and its board believed such a deal could be negotiated and executed before its annual shareholders meeting on August 1. Yahoo said it also informed the software giant it remained willing to negotiate an 'improved search-only transaction.' Microsoft, however, rejected both offers, Yahoo stated."

3 of 119 comments (clear)

  1. Back Pocket by mrbill1234 · · Score: 5, Insightful

    Icahn is only interested in his back pocket, not the interest of shareholders, or the employees of Yahoo. He is acting like a little child because he can't get his way.

    1. Re:Back Pocket by DancesWithBlowTorch · · Score: 5, Insightful

      Icahn is only interested in his back pocket, not the interest of shareholders, or the employees of Yahoo.

      Well, Icahn is a shareholder in yahoo. And I would be surprised to find out the other shareholders are not interested in "their backpockets".

      Now, I agree that the whole thing sucks for yahoo's employees. But that's the way the system works. It's called capitalism because the capital controls the system, not employeeism. Within the bounds of this system, Icahn has a perfectly valid point: He thinks Microsoft is offering a great deal to Yahoo's shareholders, and since Yahoo's board has to answer to the shareholders (and only the shareholders), he thinks they are not doing their job well.

      Honestly: Jerry Wang is as rich as he is because he sold his company to outside investors (by going public). He can't cry foul now that they want to act out their control over the company he sold them.

  2. Re:I hope yahoo stands firm by Anonymous Coward · · Score: 5, Interesting

    there's more to this game than a simple buyout.

    3's a crowd. Ballmer isn't interested in a buyout, they're not even buying Yahoo's market share in the traditional acquisition sense. What Ballmer is doing is eliminating the current number 2 player in web search^w^w the online ad market, a position that will automatically be filled by MSN. We already know what Ballmers game plan is, in his own words...

    "Fucking Eric Schmidt is a fucking pussy. I'm going to fucking bury that guy, I have done it before, and I will do it again. I'm going to fucking kill Google."

    "Google's not a real company. It's a house of cards."