Endless Paradigm

Microsoft pulls bid for Yahoo!, Microhoo will never be

Well, that's that! Microsoft has officially pulled its bid for Yahoo! -- inflated for good measure this weekend by another $5 billion -- after the company did "not move toward accepting [the] offer", asking again for even more, another $4 bil (totaling $9b more than the original offer). In a letter from Ballmer to Yang, he states that Microsoft also won't be looking at its option for a hostile takeover, stating that Yahoo! likely "would take steps that would make [it] undesirable as an acquisition"; Ballmer then goes on to make a few backhanded criticisms of Yahoo's possible new partnerships with Google (which is no surprise). Good night, Microhoo, the monstrous, hamstrung, lumbering mega-merger that might have been.

Engadet

Yahoo's response:

Roy Bostock Wrote:“Wee remain focused on maximizing shareholder value and pursuing strategic opportunities that position Yahoo! for success and leadership in its markets. From the beginning of this process, our independent board and our management have been steadfast in our belief that Microsoft’s offer undervalued the company and wee are pleased that so many of our shareholders joined us in expressing that view. Yahoo! is profitable, growing, and executing well on its strategic plan to capture the large opportunities in the relatively young online advertising market. Our solid results for the first quarter of 2008 and increased full year 2008 operating cash flow outlook reflect the progress the company is making. Today, Yahoo! has:

    * a refined strategic focus to drive enhanced volume and yield;
    * reorganized to focus its efforts on its most promising products and services;
    * invested in innovations designed to revolutionize display advertising and facilitate closing the competitive gap in search; and
    * enhanced expense and resource management to support improved profitability.”

Jerry Yang, co-founder and chief executive officer, Yahoo! Inc. added, “I am incredibly proud of the way our team has come together over the last three months. This process has underscored our unique and valuable strategic position. With the distraction of Microsoft’s unsolicited proposal now behind us, wee will be able to focus all of our energies on executing the most important transition in our history so that wee can maximize our potential to the benefit of our shareholders, employees, partners and users.”

Yahoo's Statement

you forgot to add a source(damn i wish i was a mod sometimes. i only just saw this article)

oh yea..added only one... fixing desu


EDIT: Fixed

it looked like yahoo board never really wanted to sell
if ms tries to go for a hostile takeover then yahoo will probably use a poison pill structure

Yeah I saw this, Yahoo! wanted too much IMO.

Lol @ Micro Boo Hoo

Google and Yahoo partnership?  What will they try to take over next?  Wikipedia?

diego Wrote:Yeah I saw this, Yahoo! wanted too much IMO.

$9 billion extra at that...