And Microsoft is Like, 'You Know What? Forget It'
Talk about an emotional roller coaster. Discussions between heads of Microsoft and Yahoo on Saturday concluded with the two companies deciding they don't mesh well after all.
After company insiders divulged Microsoft and Yahoo were in decidedly harmonious merger talks, Steve Ballmer has formally withdrawn his bid. There will be no board ousting and no bid to meet Yahoo's lofty expectations of $37 per share.
Steve Ballmer on the talks:
"Despite our best efforts, including raising our bid by roughly $5 billion, Yahoo has not moved toward accepting our offer ... 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."
Jerry Yang on what an insider alleged was his "personal victory":
"With the distraction of Microsoft's unsolicited proposal now behind us, we will be able to focus all of our energies on executing the most important transition in our history."
Whatever, man.
Comments
Huh, that's an interesting comment from Yang. That transition had better be bad ASS. It's a long way up from lame and not viable, you know?
出会い系 心理
Exactly. How hard can it be to make the transition to "not sucking"?
I continue to believe that 80% of Yahoo's audience consists of bots and Windows 98 machines accidentally left on in dead peoples' basements.
-- B
Heard on NPR this morning: investors don't feel happy about the decision, think Yang made it personal, may oust him themselves.
In 12 months they'll be picking Yahoo stocks off the market dung heap like bits of corn cob. And we'll read all about it in the Google Headlines.
B had it right. Effin' hilarious.
bah! I bought YHOO on the opening today at9:30 lousy fill but I picked up a buck on the day trade. bad news is great news, really...crisis=opportunity.
Looking for YHOO to trade at 16 for a bargain longterm purchase in August 08 based on the broken doublebottom on the XOX charts.
thx for the post!
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