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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
Does Yahoo! have a viable business plan besides merging with someone else at some point? If I was one of their shareholders I might have gotten pretty annoyed that they dismissed the MSFT offer out of hand the way they did. What's the future of Yahoo! without a merger? They have a platform in the works that can pose a serious challenge to Google and secure marketshare against them or Microsoft? Didn't think so.....
I want peace on earth and goodwill toward man.
We are the United States Government! We don't do that sort of thing.
Getting bought by one of the biggest companies in the world turns out to be a rather costly thing.
That should read "Not getting bought out..." since the deal never went through. If they had only just given in to Microsoft... then all it would have cost them is their souls.
The google/yahoo deal was an advertising agreement, not a merger/acquisition.
Do you even lift?
These aren't the 'roids you're looking for.
here is the link to the atricle that actually talks about the $79 Million dollar tab, with all sorts of links to all the related article stuff...
http://news.cnet.com/8301-1023_3-10184454-93.html?tag=mncol;posts
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 ?
$79 million dollars = Dollars seventy-nine million dollars.
$79 million dollars = Seventy-nine dollars million dollars.
$79 million dollars = Dollar sign seven nine space letter m letter i letter l... .. . . . .
$ can mean dollars, or pesos.
Who gives a fuck.
When our company took over a company worth £43mill it cost us £1mill in legal fees etc. etc. to get everything looked over and sorted out.
I think for something of Yahoo's worth, $79 million isn't massively unrealistic. I'd say it's not unreasonable either, it is to most people including me, but in the world of business I'd say it's probably not.
Still Yahoo, perhaps the most business plan challenged IT company in the last few years, turning down Micrososft, going for Google, getting told to f off by Google because of the potential for monopoly problems and then running back to Microsoft and being told to f off by Micrososft too.
Ballmer is probably laughing his arse off, they offered over the odds to pay for the company but if they had paid that much and then seen the resulting decline of it's worth due to a number of factors from Google to the financial crisis then they'd have wasted literally billions.
I don't know if I'd call it genius or underhanded (people jumped all over Sony for doing something similar with that one import company...) but use the legal system and costs associated with it to drive your competition out of business.
Every time I start to have faith in humanity, I ruin it by driving to work between 7 and 8 am.
If you're not part of the solution, there's plenty of money to be made prolonging the problem.
http://despair.com/consulting.html
Does anybody at Slashdot ever actually check *anything* before they post?
"The deal fizzled out when federal antitrust regulators said it would challenge any deal made between the two companies.""
The link is about the deal between *GOOGLE* and Yahoo!. Google != Microsoft.
The deal between Yahoo! and Microsoft fizzled out because Yang did everything he could to prevent it, not because of antitrust concerns.
The way I read it, there's a lot of fees rolled into one.
Some of you may ask why so many lawyers. Well there a 3 separate legal issues here. Fight MS, Deal with Google, and fight Carl Icahn. You might get the same lawyers to fight MS and figure out the Google deal, but they really are different areas of the law and the large scope would mean you need more more bodies. For the proxy contest, you probably want a law firm that specializes in that.
Well, there's spam egg sausage and spam, that's not got much spam in it.
Microsoft is the worlds 136th largest company
> Who gives a fuck.
Your mom. For about $79. Pesos.
79 Dollars Pesos?
Why is it so hard to only have politicians for a few years, then have them go away?
> 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.
If it costs you over $70 million to figure out how being acquired by Microsoft would effect your agreements with Google, shouldn't you begin to suspect your agreements with Google are too fucking complicated? Especially when a simple Google search would tell you how Microsoft feels about Google
I've abandoned my search for truth; now I'm just looking for some useful delusions.