Well, from Yahoo’s own finanical portal site http://finance.yahoo.com the headline for today morning is “Yahoo Formally Rejects Microsoft Offer”. And it says:
Monday February 11, 9:58 am ET
Yahoo Formally Rejects Microsoft’s $44.6 Billion Takeover Bid As InadequateSAN FRANCISCO (AP) — Yahoo Inc. spurned Microsoft Corp.’s $44.6 billion takeover bid as inadequate Monday without explaining how its management will match the payoff that the slumping Internet icon’s shareholders would have received had the unsolicited offer been accepted.
That is not surprised to me, since I already reported last week the “enemy” of Microsoft, Google will help Yahoo on anyway it can to defeat Microsoft’s hostile take over. Of course, the 10-member board of Yahoo strongly “believes” that it can get more money from the world’s largest software maker since the Redmond needs it badly, or the board thinks Jerry Yang and its management team will finally be able to deliver on its repeated promises of a turnaround that has been in the works for the past 18 months.
According to the news, Microsoft will eventually raise its bid to $35 to $40 per share, sweetening the pot by $5 billion to $12 billion in an effort to negotiate an amicable sale. Or at last, Microsoft could take its original bid directly to Yahoo’s shareholders.
What is the market’s response?
Yahoo shares rose 62 cents, or 2 percent, to $29.82 in early trading Monday while Microsoft shares lost 24 cents to $28.32.
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