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Microsoft Withdraws Proposal to Acquire Yahoo!

Discussion in 'News' started by malware, May 4, 2008.

  1. malware New Member

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    Microsoft Corp. today announced that it has withdrawn its proposal to acquire Yahoo! Inc.
    said Steve Ballmer, chief executive officer of Microsoft.

    “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,” said Ballmer.

    “We have a talented team in place and a compelling plan to grow our business through innovative new services and strategic transactions with other business partners. While Yahoo! would have accelerated our strategy, I am confident that we can continue to move forward toward our goals,” Ballmer said.

    “We are investing heavily in new tools and Web experiences, we have dramatically improved our search performance and advertiser satisfaction, and we will continue to build our scale through organic growth and partnerships,” said Kevin Johnson, Microsoft president for platforms and services.

    Below is the text of the letter from Microsoft CEO Steve Ballmer to Yahoo! CEO Jerry Yang.
    Source: Microsoft
     
  2. beyond_amusia

    beyond_amusia New Member

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    I was waitin for this to pop up.. it made headlines yesterday. =P I think MS is now going to watch Y! stock plummet and then move in for the kill.
     
  3. lemonadesoda

    lemonadesoda

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    This is a VERY LONG letter by Ballmer. Too long. It is either:

    1./ Fake, or

    2./ Spelling out issues of market collution with the dominant player, together with "poison pill", ready to take the issue to the MM commission, or pursue legal action againt said director. How? Becuase Ballmer is spelling out how, through "spite of hostile bid", the management team of Yahoo would take actions to destroy value for their shareholders. They would be legally liable to the shareholders for such action and could not only force their resignation, but pursue them for damages, or

    3./ Its a trojan horse. MS will not take Yahoo in ONE hostile bid, but will work with an invement bank / private equity firm to acquire stock through a third party until such point that together they have sufficient voting rights to appoint their own board members. Its not a hostile take over. But an accumulating stakeholder in Yahoo until such point that MS has controlling influence.

    All in all, odd.

    Yahoo should remain alert.
     
  4. Azazel

    Azazel New Member

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    they should have sold. yahoo really dies suck
     
    tkpenalty and Dangle say thanks.
  5. unsmart

    unsmart New Member

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    :rockout: I love to see MS told to" F off and take you cash with you":slap:
     
  6. jbunch07

    jbunch07 New Member

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    damn they were wiling to raise their offer to $33 bucks a share and they still said no.
    im sorry but i think that was kind of stupid on yahoo"s part!
     
  7. Triprift

    Triprift

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    Id have to agree with ya if it was anyone other than ms id day yahoo would of accepted.
     
  8. FreedomEclipse

    FreedomEclipse ~Technological Technocrat~

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    In other words yahoo are going to get 'assimilated'

    Interbreeding with the Yahoo stocks until yahoo stocks become M$ stocks
     
  9. beyond_amusia

    beyond_amusia New Member

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    But no one else could afford $50 billion... Yahoo is stupid, and their stocks will plumet, and MS will have the last laugh in this.
     
  10. jbunch07

    jbunch07 New Member

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    sad but true...unless yahoo partners with google?!
     
  11. beyond_amusia

    beyond_amusia New Member

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    The EU, China, and the US would tear them apart for even trying it... The Supreme Court is already looking at that 3 day trail Yahoo did with Google...
     
  12. robodude666 New Member

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    I'm glad to see a company who cares about who they are being bought by. So what if Microsoft offered a large sack of money? If Yahoo doesn't want to take that sack of money then they shouldn't have to. They are probably working out a deal with Google as we speak. Personally, if I was a big company, I'd rather accept $30mill from Google than $50+mill from Microsoft.
     
  13. effmaster

    effmaster New Member

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    REad the post above you dude its not ever going to happen PERIOD. Unless Googles share of the interent starts to dramatically fall down like crazy and Microsofts starts to increase like crazy (not likely to happen anytime soon though.

    Maybe Microsoft should be looking to take over ASk.com that would be a pretty good takeover bid if you ask me.
     
  14. wazzledoozle

    wazzledoozle New Member

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    Microsoft would be better off taking just a fraction of the money that would have been used in a takover bid of yahoo, and strengthening their own Live brand. Yahoo isn't even relevant anymore.
     
  15. pmrdij

    pmrdij New Member

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    note: <-- not an MS fanboy but rather a fanboy of Goliath, er, Google.

    i completely agree.

    oh how i look forward to Monday's stock numbers for Yahoo!. i side with Ballmer that Yahoo!'s hierarchy has done everything they could to make themselves undesirable while in the process acquiring unnecessary services to make the price increase they demanded seem acceptable (to whom i do not know).. can't wait to wake up tomorrow morning and see how their shareholders react to such and MS officially saying that the money is off the table.

    http://finance.google.com/finance?q=YHOO

    - Robert (PmR)DIJ
     
  16. techie81

    techie81 New Member

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    Bad move on Yahoo's part, they are old news.
     
  17. Haytch

    Haytch New Member

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    I havnt used Yahoo services in years. I never will again anyways. Theres just far better out there!
    Yahoo did not do the right thing by its investors and should have sold for the top dollar.

    I dont think MS will persue the aquisition of Yahoo untill its worthless, but im sure they will merge with someone else before considering MS as a viable option. In the meantime MS will use it as an example and move onto something more strategic. Improving ' Live ' would be their best longterm goal. $5 Billion to improve Live seems very doable, especially with one of its competitors about to hit the ground floor!
     
  18. effmaster

    effmaster New Member

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    I still use Yahoo as my email account:slap::slap:
     
  19. Dangle New Member

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    Fuck yea they should have. Yahoo stock was ~$20 before the MS bid. Immediately after the bid, their stocks rose to $30. MS was offering ~$32. That's 30% more than yahoo was worth. Their stocks have been falling ever since 2000. Yahoo is a piece of shit, not worth $40 per share or whatever they were asking for.

    The upper management only denied the request so they could keep their jobs. I'm glad MS pulled their bid. I can't wait until monday!!!!!

    Exactly. You, and people like you, are the ONLY reason MS wants to buy Yahoo. There's really nothing else besides a user base that Yahoo can contribute.
     
  20. v-zero Guest

    Pure idiocy. Yahoo shares will drop to $10 a piece by q4 and then MS will buy them out for bugger all.
     
  21. panchoman

    panchoman Sold my stars!

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    yahoo widgets are pwnage :slap:

    only good thing about yahoo really..
     
  22. Nitro-Max

    Nitro-Max New Member

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    tbh looks to me as if yahoo is holding out to see how much ms would raise the price now ms have pulled out i reckon a deal will be made pretty soon if yahoo cannot find another buyer.
     
  23. Triprift

    Triprift

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    Yahoo i rekon will have to accept a lower offer cus google aint gonna be there saviour.
     
  24. Ravenas

    Ravenas

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    Google will be Yahoo's new partner.

    Unfortunate that MS is literally failing on so many fronts right now it's not even funny.
     
  25. Dangle New Member

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    I don't consider failing to mean withdrawing a ridiculously bloated bid for a shitty company.
     

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