Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 9:53:56 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

Yahoo Officially Shoots Down Microsoft

Posted Feb 11, 08 9:53 AM CST in Business 

(Newser) – Yahoo officially rejected Microsoft’s $31-per-share takeover offer today, saying the bid, which represents a 62% premium, “substantially undervalues” the company, Bloomberg reports. The statement didn’t specify a counteroffer, but Yahoo is seeking $40 a share, the Wall Street Journal reports. “Yahoo thinks they’re worth more because of the plans they’ve implemented that have yet to come to fruition,” explained one analyst.

The saga is far from over. Microsoft’s offer contained a note: “Microsoft reserves the right to pursue all necessary steps” to close the deal. The combined company would control about a quarter of the Internet’s banner ad business, which Yahoo dominates. Within minutes of the stock markets opening, Yahoo's stock had risen 2.2%, while Microsoft's had fallen 1.3%.

Source Bloomberg

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • $20B Yahoo Search Deal 'Total Fiction': Exec

    Nov 30, 08 8:03 PM CST
    $20B Yahoo Search Deal 'Total Fiction': Exec A report that Microsoft is buying Yahoo's search business and giving two Internet execs a 30% share is "total fiction," one of the execs tells Kara Swisher at AllThingsDigital. Swisher agrees that the $20 billion deal, reported by the London Times, is likely non-existent. After all, board member Carl Icahn would know about it—and his recent purchase of nearly seven million Yahoo shares "would smack of insider trading" if the purchase went through.
    More »

  • Ballmer Quashes Yahoo Bid Rumors; Open to Partnership

    Nov 19, 08 12:42 PM CST
    Ballmer Quashes Yahoo Bid Rumors; Open to Partnership Steve Ballmer quashed the rumor that Microsoft would make another offer to buy Yahoo now that Jerry Yang has quit as CEO, CNET reports. “We are done with all acquisition discussions with Yahoo,” the chief executive said today. “We did our best; we’ve moved on.” More »

  • For Yahoo, Question Is: Who's Yang's Yin?

    Nov 19, 08 9:52 AM CST
    For Yahoo, Question Is: Who's Yang's Yin? Yahoo’s successor to CEO Jerry Yang could come from outside the Internet industry, as long as he has a strong operations background and the decisiveness to break the company’s culture of indecision, reports the Wall Street Journal. But even before hiring a CEO, the company needs to decide whether it wants to remain independent or go with a partner, reports the New York Times.
    More »

  • Yang's Departure Gives Microsoft New Opening

    Nov 18, 08 9:54 AM CST
    Yang's Departure Gives Microsoft New Opening Investors are hoping Jerry Yang’s departure will lead to renewed talks with Microsoft, BusinessWeek reports. “This is probably the beginning of the end for Yahoo,” said one. “Microsoft will probably come back with an offer.” Microsoft has repeatedly denied interest in reviving a deal, but Yang’s departure “clears the path,” one analyst said. “Yahoo can free up its strategic alternatives.” More »

  • Google, Yahoo May Ditch Talks on Ad Alliance

    Oct 31, 08 9:03 AM CDT
    Google, Yahoo May Ditch Talks on Ad Alliance Google and Yahoo's potential partnership is on the rocks. The two sides are still searching for a middle ground on an advertising deal, but both sides could walk away from the talks as early as next week, the Wall Street Journal reports. The main stumbling block is a consent decree, suggested by the Department of Justice, that would subject the companies’ compliance to constant oversight by a judge.
    More »

A Yahoo worker walks into Yahoo headquarters in Sunnyvale, Calif. in this Jan. 29, 2008 file photo. (AP Photo/Paul Sakuma, file)   (Associated Press)
The Yahoo Center office building is seen in Santa Monica, Calif. Friday, Feb. 2, 2008. The Justice Department on Friday said it is "interested" in reviewing antitrust issues associated with Microsoft...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 5)

Tags

Microsoft • Yahoo • mergers and acquisitions


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »