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Yahoo Still Open to Offers: Yang

CEO, facing shareholder backlash, says Microsoft 'wouldn't negotiate'

By Rob Quinn,  Newser Staff

Posted May 6, 2008 6:28 AM CDT
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(Newser) – Though Microsoft's courtship of Yahoo came to an unhappy end, Yahoo is still open to suitors, even Microsoft—at the right price, insists CEO Jerry Yang. Yahoo is in talks with other companies about ways to boost its value, and while Yahoo isn't in a rush to sell, executives are willing to listen to any would-be buyer, Yang tells Bloomberg as he faces mounting shareholder criticism for letting the deal get away.

 Yang complains to the New York Times that Microsoft was unwilling to budge. "They chose to walk away after we put a price on the table. I would have been very happy to do a deal with Microsoft." Yahoo shares slumped 15% yesterday to $24.37 after the company rejected Microsoft's sweetened $33-a-share bid. “I’m hoping that there is such an outpouring of outrage that the board is embarrassed into revisiting this thing,” one investor tells the Times, “but I’m not optimistic about that.”

A Yahoo worker leaves Yahoo headquarters, Monday, May 5, 2008. Yahoo shares fell in early trading Monday as hopes dimmed following Microsoft's withdrawal of a $47.5 billion takeover bid.
A Yahoo worker leaves Yahoo headquarters, Monday, May 5, 2008. Yahoo shares fell in early trading Monday as hopes dimmed following Microsoft's withdrawal of a $47.5 billion takeover bid.   (AP Photo/Paul Sakuma)
Yahoo co-founder Jerry Yang said the company was willing to do a deal with Microsoft but Microsoft proved unwilling to negotiate.
Yahoo co-founder Jerry Yang said the company was willing to do a deal with Microsoft but Microsoft proved unwilling to negotiate.   (Getty Images)
Yahoo CEO Jerry Yang smiles during a keynote address at an electronics show in Las Vegas.
Yahoo CEO Jerry Yang smiles during a keynote address at an electronics show in Las Vegas.   (AP Photo/Paul Sakuma, file)
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Yahoo • Microsoft • mergers and acquisitions • Jerry Yang • Steve Ballmer

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