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October 11, 2008 4:20:45 AM CDT

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Yang Justifies Rejected Microsoft Bid

Posted Feb 14, 08 2:07 PM CST in Business,  Technology 

(Newser) – Jerry Yang believes Microsoft’s $44.6 billion bid for Yahoo was too low because it does not take into account the company's “unique position” in the growing online advertising market, the New York Times reports. In a letter sent to shareholders today, Yang inventoried Yahoo’s advantages: its widely-known name, its monthly traffic of 500 million visitors, and its dominance of the display ad market.

“The global online advertising market is projected to grow from $45 billion in 2007 to $75 billion in 2010. And we are moving quickly to take advantage of what we see as a unique window of time in the growth—and evolution—of this market,” Yang wrote. Although it rejected Microsoft’s initial bid, many analysts are convinced that Yahoo will inevitably sell—it’s just a matter of at what price.

Source New York Times

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This combination of two file photos shows Microsoft CEO Steve Ballmer, left, and Yahoo CEO Jerry Yang. Yahoo Inc. on Monday, Feb. 11, 2008 spurned Microsoft Corp.'s $44.6 billion takeover bid as inadequate,...   (Associated Press)
Yahoo CEO Jerry Yang gives a keynote address at the Consumer Electronics Show (CES) in Las Vegas, Monday, Jan. 7, 2008. Yahoo is expected to release quarterly earnings Tuesday, Jan. 29, 2008. (AP Photo/Paul...   (Associated Press)
Yahoo chairman Terry Semel listens to CEO Jerry Yang give a keynote address at the Consumer Electronics Show (CES) in Las Vegas, in this Monday, Jan. 7, 2008, file photo. Semel stepped down as Yahoo Inc.'s...   (Associated Press)
The Yahoo logo is shown on Thursday, Feb. 14, 2008 in New York. (AP Photo/Mark Lennihan)   (Associated Press)
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Microsoft  • Yahoo  • acquisitions  • online advertising  • Jerry Yang  • buyout  • search engine  • Steve Ballmer  • search engine marketing


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