Microsoft withdraws offer for Yahoo - Democratic Underground

JanErikFl

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Sat May-03-08 07:27 PM
Original message

Microsoft withdraws offer for Yahoo

Edited on Sat May-03-08 07:27 PM by JanErikFl

Source: Reuters

SAN FRANCISCO (Reuters) - Microsoft Corp (MSFT.O) has withdrawn its offer for Yahoo Inc (YHOO.O) and does not plan to go hostile, a person familiar with Microsoft's thinking said on Saturday.

Microsoft raised its offer by $5 billion to $33 a share, but Yahoo wanted $37 a share, this person said.

Microsoft Chief Executive Steve Ballmer has sent a letter to Yahoo Chief Executive Jerry Yang withdrawing the offer, the person said.

Read more: http://news.yahoo.com/s/nm/20080504/bs_nm/microsoft_yahoo_dc

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Deja Q

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Sat May-03-08 07:27 PM
Response to Original message

1. !

At least there was no attempt at a hostile takeover. I do not believe it would have gone through.

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gristy

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Sat May-03-08 07:33 PM
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2. Sounds like the right decision.

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ckramer

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Sat May-03-08 07:35 PM
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3. Yahoo will go back to 20$/share soon

The shareholders will be mad.

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Warren Stupidity

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Sat May-03-08 08:55 PM
Response to Reply #3

5. That sounds right to me.

msft was going to drastically overpay for an asset that is diminishing in value.

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paparush

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Sat May-03-08 08:26 PM
Response to Original message

4. I hope that is the Last, Final, and FinallyLast word on this. nt

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techtrainer

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Sat May-03-08 09:15 PM
Response to Reply #4

6. It will have to happen eventually.

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paparush

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Mon May-05-08 01:00 PM
Response to Reply #6

12. Yeah, when Yahoo's stock falls back below $20 and Yang is run out of town on a rail..

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cliffordu

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Sat May-03-08 09:38 PM
Response to Original message

7. THANK GOD.

Fuck microsoft and double fuck ballmer

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dbonds

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Sat May-03-08 09:39 PM
Response to Original message

8. What most people don't realize...

is Yahoo has a Web 2.0 platform that is pretty nice - although not the only platform in town. MS would be paying mostly to get a jump start on that technology. Although google has done a lot of work in that area too, as well as jquery. I still think extjs should be the class library though.

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onehandle

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Sat May-03-08 11:42 PM
Response to Original message

9. Good. Fuck Microsoft. nt

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Doctor Cynic

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Sat May-03-08 11:53 PM
Response to Original message

10. Pity the suckers who bought Yahoo a few weeks ago!

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Ian David

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Sun May-04-08 07:35 AM
Response to Original message

11. This is very bad news. This means Rupert Murdoch's NewsCorp will buy it.

As soon as it looks like that is going to happen, it's time to disband your Yahoo groups and unsubscribe from everything to protect your privacy.

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DU AdBot (1000+ posts)

Tue Apr 30th 2024, 10:13 AM
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