Friday, February 01, 2008
Microsoft bids $45B for Yahoo
Microsoft to pay a $44.6B (a 62% premium) for Yahoo, in order to take on Google. This is probably not good news for Google, whose shares were already under pressure. It must be pretty nerve-wracking when Microsoft turns its guns on you. Just ask Lotus, WordPerfect, Novell, Borland and Corel about that.
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4 comments:
As of 11:00am, GOOG is down $48.40 (8.58%) at $515.90
As of 12:00 noon...
Yahoo is at $27.76, up $8.58 (44.73%)
Microsoft is at $30.56, down $2.04(6.26%)
From Marketwatch late yesterday...
Microsoft pulled its acquisition proposal for Yahoo after failing to come to terms with the Web portal's management team over the price. In a statement, the software giant said it failed to convince Yahoo's board to accept its bid - even after sweetening the deal. Microsoft also said it would not pursue a hostile takeover action, including a proxy battle, after concluding that Yahoo would likely respond with actions that would make it "undesirable" as an acquisition candidate. "After careful consideration, we believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal," Microsoft CEO Steve Ballmer said.
This was just so good I had to pass it on...
http://www.foxnews.com/story/0,2933,354208,00.html
Earth to Microsoft: Yahoo is not worth $44 billion. You could buy General Motors lock, stock, and barrel for $14 billion, name all the cars "Google Sucks" and get more bang for the buck. You'd have enough left over to buy Ford for around $16 billion, and you could name all those cars "Google Sucks More" and still have $14 billion left over for a big party.
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