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Ballmer to Yahoo: That's Our Final Offer

Posted Apr 23, 08 2:48 PM CDT in Technology,  Business 

(Newser) – Microsoft won't raise its $44.6 billion takeover bid for Yahoo despite the Internet firm's strong first-quarter earnings, Bloomberg reports. "We are prepared to go forward without a merger," said CEO Steve Ballmer, who has threatened a proxy shareholder revolt to push the deal through, possibly at a lower price, if Yahoo didn’t agree to the original bid by Saturday.

Even with Yahoo posting its first quarterly profit increase in two years, Microsoft points to declines in vital areas such as search and display ads as justification for possibly lowering its $31-a-share bid—"Time is money, we've made that clear," Ballmer has said. But analysts think Microsoft’s hardball tactics might be hot air: "Microsoft is doing very poorly in Internet businesses; they have to have Yahoo,'' said one investment banker.

Source Bloomberg

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Pedestrians walk below a Yahoo billboard in San Francisco, Tuesday, April 22, 2008. Yahoo, Inc. is expected to release quarterly earnings after the closing bell Tuesday.   (AP Photo/Jeff Chiu)
Microsoft's CEO Steve Ballmer answers a question from the audience at the Microsoft 2008 MVP Global Summit MVP event from Canada in Seattle on Thursday 17, 2008.   (AP Photo/Kevin P. Casey)
Steve Ballmer, CEO of Microsoft, addresses the media during a news conference at the CeBIT in Hanover, northern Germany, in this Monday, March 3, 2008 file photo.   (AP Photo/Joerg Sarbach, file)
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Microsoft  • Yahoo  • acquisitions  • Jerry Yang  • buyout  • Steve Ballmer  • search advertising  • display advertising


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