Yahoo Says Ya-Noo!
Yahoo's board of directors this weekend
formally
rejected Microsoft's takeover offer. The board apparently wants either more
dough or to hook up with a different partner, such as Google (which would raise
antitrust concerns) or AOL.
I'm no stock market whiz (and have the losses to prove it!), but as I understand
it, the Microsoft bid was a huge premium over Yahoo's existing share price.
And Microsoft offers the ailing Yahoo resources, market share and commitment
-- things Yahoo needs.
On the flip side, I still don't think this deal is in Microsoft's best interest,
especially if it spends far more than the $44.5
billion it already has on the table.
Instead of trying to out-Google Google, imagine what could be done if all that
money were placed in the hands of a bunch of young, smart programmers and visionaries.
Posted by Doug Barney on February 11, 2008