3 ms·

Yahoo tells Microsoft to increase $41B bid

10 points by nreece 19y ago

jeroen 19y ago
Full text of the letter from Yahoo! to MS: http://www.businessweek.com/bwdaily/dnflash/content/apr2008/db2008047_940112.htm http://www.businessweek.com/bwdaily/dnflash/content/apr2008/...
- PieSquared 19y ago
  Somehow, I enjoyed his few 'jabs' towards Steve, especially the one about how Yahoo! has been uncooperative in negotiations: "Moreover, Steve, you personally attended two of these meetings and could have advanced discussions in any way you saw fit. "
  - tom_rath 19y ago
    Why would 'Steve' be the one to advance discussions? Microsoft has put forward their offer and is awaiting a response. It's not as though Yahoo has forgotten about it -- the next move is theirs to make.
    - 0x44 19y ago
      Yahoo! formally rejected the offer in February. What more response is necessary?
      - tom_rath 19y ago
        Either identifying an alternative option to their shareholders or responding to Microsoft with the price Yahoo thinks would be reasonable. Microsoft has basically said "Hey, guys. We made an offer that's more than a 60% premium over your share price. If you won't accept that (or even let us know what price you will accept) we'll take this right to your shareholders and do this the hostile way at a price that's lower than our current offer." The ball's in Yahoo's court on this one.
        0x44 19y ago
        I disagree. Microsoft presented an offer, Yahoo! rejected it outright. After being rebuffed, it is incumbent upon Microsoft to either inquire about more amenable terms (to Yahoo!), or to withdraw their pretense of negotiation and go to the shareholders.
jamesbritt 19y ago
Is it normal to address people by their first name in formal business communications?
jgrahamc 19y ago
Sing along with Jerry Yang (apologies to Amy Winehouse): They tried to make me go to Redmond I said no, no, no. Yes it's been bad, the stock'll come back We'll grow, grow, grow We ain’t got a clue But Mr Ballmer thinks we do He's tried to make me go to Redmond I won't go, go, go. I’d rather be at home by the Bay But can't just sit here an' pray Cos there’s nothing, nothing they can teach me That I can't learn from Dr Eric Schmidt 41 B's not enough But we're worth more than that small stuff They’re tryin to make me go to Redmond I said no, no, no Yes it's been bad, the stock'll come back We'll grow, grow, grow We ain’t got a clue But Mr Ballmer thinks we do He's tried to make me go to Redmond I won't go, go, go.
run4yourlives 19y ago
Well, if I was a shareholder needing evidence that the leadership of Yahoo is in fact yahoo, I couldn't ask for a better clue. MS is gonna save some money in this deal come May.
okeumeni 19y ago
I think Yahoo should accept the deal, there’s no way they can reverse the course at this point, and they’ve tried. Another six month they could be in the red, then the takeover will be nasty and the losers will be the shareholders.

10 points by nreece 19y ago

Full text of the letter from Yahoo! to MS: http://www.businessweek.com/bwdaily/dnflash/content/apr2008/db2008047_940112.htm http://www.businessweek.com/bwdaily/dnflash/content/apr2008/...

PieSquared 19y ago
Somehow, I enjoyed his few 'jabs' towards Steve, especially the one about how Yahoo! has been uncooperative in negotiations: "Moreover, Steve, you personally attended two of these meetings and could have advanced discussions in any way you saw fit. "
- tom_rath 19y ago
  Why would 'Steve' be the one to advance discussions? Microsoft has put forward their offer and is awaiting a response. It's not as though Yahoo has forgotten about it -- the next move is theirs to make.
  - 0x44 19y ago
    Yahoo! formally rejected the offer in February. What more response is necessary?
    - tom_rath 19y ago
      Either identifying an alternative option to their shareholders or responding to Microsoft with the price Yahoo thinks would be reasonable. Microsoft has basically said "Hey, guys. We made an offer that's more than a 60% premium over your share price. If you won't accept that (or even let us know what price you will accept) we'll take this right to your shareholders and do this the hostile way at a price that's lower than our current offer." The ball's in Yahoo's court on this one.
      - 0x44 19y ago
        I disagree. Microsoft presented an offer, Yahoo! rejected it outright. After being rebuffed, it is incumbent upon Microsoft to either inquire about more amenable terms (to Yahoo!), or to withdraw their pretense of negotiation and go to the shareholders.

jamesbritt 19y ago

Is it normal to address people by their first name in formal business communications?

jgrahamc 19y ago

Sing along with Jerry Yang (apologies to Amy Winehouse): They tried to make me go to Redmond I said no, no, no. Yes it's been bad, the stock'll come back We'll grow, grow, grow We ain’t got a clue But Mr Ballmer thinks we do He's tried to make me go to Redmond I won't go, go, go. I’d rather be at home by the Bay But can't just sit here an' pray Cos there’s nothing, nothing they can teach me That I can't learn from Dr Eric Schmidt 41 B's not enough But we're worth more than that small stuff They’re tryin to make me go to Redmond I said no, no, no Yes it's been bad, the stock'll come back We'll grow, grow, grow We ain’t got a clue But Mr Ballmer thinks we do He's tried to make me go to Redmond I won't go, go, go.

run4yourlives 19y ago

Well, if I was a shareholder needing evidence that the leadership of Yahoo is in fact yahoo, I couldn't ask for a better clue. MS is gonna save some money in this deal come May.

okeumeni 19y ago

I think Yahoo should accept the deal, there’s no way they can reverse the course at this point, and they’ve tried. Another six month they could be in the red, then the takeover will be nasty and the losers will be the shareholders.