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Yahoo Spent $79 Million To Fend Off Microsoft
Apologetics Blog writes "Getting bought by one of the biggest companies in the world turns out to be a rather costly thing. Last year when Microsoft was in talks with Yahoo regarding a possible buy-out, in a report recently filed with the Securities and Exchange Commission, Yahoo announced that it cost them $79 million to fight off Microsoft. Most of that money was spent on advisors who examined Microsoft's proposals, and the way it would impact on Yahoo's search agreement with Google. The deal fizzled out when federal antitrust regulators said it would challenge any deal made between the two companies."
Shows that consultants win, as they so often (always?) do
1.) Immediately investigate Jerry Yang's connection with the "advisors".
2.) Ensure that the current CEO understands that any future "advisment" of this nature will come out of her pension.
That's $215K per day for a whole year !
Do you expect me to believe that the 100 top flight lawyers and accountants were working every day of the year on this ? Or did they just hire Accenture ?
> The deal fizzled out when federal antitrust regulators said it would challenge any deal made between the two companies. The way I understand it, the deal actually fizzled out because some Yahoo C-level egos couldn't agree on a valuation with Microsoft. Yahoo, whose stock currently trades for $12.60, wouldn't sell to MS for $33 / share because they felt they were worth $37 / share, and also because they are idiots. Slashdot actually covered this story at the time.