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Microsoft Offers $45B For Yahoo
Posted: Fri Feb 01, 2008 12:51 pm
by WRXWagon2112
I can't believe
this hasn't been posted yet.
Microsoft bids $45 billion for Yahoo
Software giant offers $31 a share - a 62% premium - in deal that could reorder online ad market. Microsoft's Ballmer: 'Major milestone.'
By Chris Isidore of CNNMoney.com and Michal Lev-Ram of Fortune
February 1 2008: 11:48 AM EST
NEW YORK (CNNMoney.com) -- Microsoft Corp. made an unsolicited $44.6 billion cash and stock bid for Yahoo on Friday, a deal that could shake up the competitive and lucrative market for online advertising.
The deal would pay Yahoo shareholders $31 a share, which represents a 62% premium from where Yahoo stock closed on Thursday.
Shares of Yahoo (YHOO, Fortune 500) shot up 50% at the start of trading Friday, while shares of Dow component Microsoft (MSFT, Fortune 500) tumbled about 5%.
Steve Ballmer, Microsoft's chief executive, called the move the "next major milestone" for the software giant.
"We are very, very confident this is the right path for Microsoft and for Yahoo," he said.
Microsoft hopes to close the deal by the end of the year. Ballmer said that Microsoft has been in "off and on" talks with Yahoo for 18 months and said he called Yahoo CEO Jerry Yang Thursday night to tell him the bid was coming.
...more...
I'm starting to think that we're on the road to a two-site internet: Microsoft or Google.
--Alan
Re: Microsoft Offers $45B For Yahoo
Posted: Fri Feb 01, 2008 1:59 pm
by sirwilliam
I pick google and ice cream...with hot hershey's chocolate syrup on top...and whip cream...and cherry....and some sprinkles. That is all.
Posted: Fri Feb 01, 2008 2:56 pm
by complacent
I figured everyone's been expecting this for a long time now.
Tough call for teh CEO of Yahoo, eh?
Cash out and retire? Or stick it out and see how far down the rabbit hole goes?
Posted: Fri Feb 01, 2008 3:26 pm
by chicken n waffles
i like my yahoo email account. i don't want to have to switch to gmail as my primary, but i begrudgingly will if this goes through. :angry face:
Posted: Fri Feb 01, 2008 4:12 pm
by Libra Monkee
All my SPAM goes to Yahoo. Which I think they've been on the down stroke for a while. They might need this.
Posted: Fri Feb 01, 2008 4:40 pm
by ElZorro
Yahoo stock is up over $8, Microsoft is down over $3... gee, who is this a good idea for and a bad idea for?
Posted: Fri Feb 01, 2008 5:36 pm
by avriette
complacent wrote:
Cash out and retire? Or stick it out and see how far down the rabbit hole goes?
this is not a thread derail: as long as those msft fuckers don't buy a car company and start making smarter, safer cars.
my desktop picture is of a bmw bike i want, want, want and am afraid will be discontinued before i can afford it, so it's dominating the mind lately.
Posted: Sat Feb 02, 2008 2:59 pm
by Sabre
Makes perfect sense to me: Even with better tech, M$ won't be able to break Google's stronghold, but buying a huge part of the advertising business and the credibility that goes with it will certainly help. Yahoo's a household name, M$ is just buying the rights to it.
Posted: Sat Feb 02, 2008 4:19 pm
by Phibs
Yahoo would be smart to cash out now, I don't see their business doing very well in the future
Posted: Mon Feb 11, 2008 10:55 am
by ElZorro
Shun!
http://news.yahoo.com/s/ap/20080211/ap_on_hi_te/microsoft_yahoo wrote:
Yahoo formally rejects Microsoft offer
24 minutes ago
SAN FRANCISCO - 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.
The rebuff had been widely anticipated after word of Yahoo's intention was leaked during the weekend.
In its formal response, Yahoo said its board had concluded Microsoft's unsolicited offer "substantially undervalues" the Sunnyvale-based company.
Yahoo's stock price had dropped by more than 40 percent in the three months leading to Microsoft's bid, which was valued at $31 per share when it was announced Feb. 1. The offer represented was 62 percent above Yahoo's market value at the time.
Posted: Mon Feb 11, 2008 12:46 pm
by complacent
you really get it hard and dirty when i giant goes after you like that... shares will continue to slide and then m$ will score them on teh cheap.
Posted: Mon Feb 11, 2008 1:16 pm
by Libra Monkee
M$ might try to up the ante to $35 a share but Yahoo is trying to get at least $40.
Would you like to know more?
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