CEO, facing shareholder backlash, says Microsoft
'wouldn't negotiate'
New York Times May 6, 08 6:28 AM CDT
(Newser)
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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.
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MARKETS
Investors cautious on new developments
Wall Street Journal May 5, 08 3:32 PM CDT
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Stocks fell today as Yahoo shares plummeted 16% and crude prices jumped past $120 a barrel. "People have gotten in, but they don't want to be in a big way," a investment officer told the Wall Street Journal . The Dow fell 88.66 at 12,969.54, the Nasdaq 12.87 to 2,464.12, and the S&P 500 6.41 at 1,407.49.
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Analysis
Both companies scramble for options
BusinessWeek May 5, 08 12:56 PM CDT
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The Microsoft/Yahoo deal looks dead, and at least one company is celebrating: Google. Both companies are exploring other deals, but none will be as potent as MicroHoo might have been, BusinessWeek reports. That’s good news for a certain search giant. “Its two main competitors are separate and floundering,” said one analyst. “We think Google's the winner.”
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Analysis
Turning down Microsoft's sweetened bid may cost company in coming weeks
Reuters May 5, 08 6:17 AM CDT
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At least seven lawsuits already have been filed against Yahoo for its handling of Microsoft’s bid to acquire the Internet portal and lawyers say the company is likely to face more, reports Reuters. Microsoft withdrew a $33-per-share offer Saturday—a 70% premium above Yahoo’s share price three months ago when Microsoft launched its bid—after Yahoo demanded $37.
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Microsoft CEO once vowed to 'kill Google'
Associated Press May 4, 08 7:36 PM CDT
(Newser)
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Microsoft's Yahoo bid put CEO Steve Ballmer to the test: How much would he pay to fulfill his promise to "(expletive) kill Google"? Forty-seven billion bucks was too high, but many say he'll try again—and may have a tough time convincing investors it's all cool calculation. Microsoft still lags behind Google in search advertising, and that makes Ballmer steam, the AP reports.
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Google deal risky, but analysts say company must prove its value
New York Times May 4, 08 5:24 PM CDT
(Newser)
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High-fives broke out at Yahoo yesterday after Microsoft revoked its buyout bid, but founder Jerry Yang and colleagues may want to hold off on celebrations, the New York Times reports. Analysts expect the stock to tank tomorrow, shareholders are mulling legal action, key workers may walk, and an alliance with Google could prove disastrous.
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CEO Steven Ballmer refuses to pay $37 per share
New York Times May 3, 08 7:42 PM CDT
(Newser)
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Microsoft withdrew its latest offer to buy Yahoo today after the companies' chief execs haggled over price at a Seattle meeting, the New York Times reports. Microsoft CEO Steven Ballmer offered $33 per share, but Yahoo's Jerry Yang wanted $4 per share more in the blockbuster deal.
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Increase of 'several dollars' seen
New York Times May 2, 08 3:34 PM CDT
(Newser)
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Microsoft and Yahoo are holding active merger talks, with Microsoft willing to increase its offer “by several dollars,” sources tell the New York Times . The negotiations come as a major breakthrough after months of stalemate; Yahoo shareholders have been fielding calls from both sides seeking to arrive at an acceptable price. Shareholders had sought $35-$37 a share; Microsoft is said to be willing to go as high as $33.
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Ballmer, still on fence last night, expected to move on Yahoo today
Wall Street Journal May 2, 08 4:52 AM CDT
(Newser)
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Microsoft appears to be edging closer to a hostile bid for Yahoo, the Wall Street Journal reports; an announcement of the company's next move is expected today. Price will be a key factor: CEO Steve Ballmer told employees yesterday he won't pay a "dime above" what he thinks Yahoo is worth. Yahoo shareholders are looking for $35 to $37 a share; Ballmer's original offer was worth $29.48 a share at the close yesterday.
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Decision to go hostile, raise bid, or walk away up to CEO Ballmer
Wall Street Journal May 1, 08 9:37 AM CDT
(Newser)
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Microsoft's board met yesterday to discuss the next move in its bid for Yahoo but didn't make a decision, the Wall Street Journal reports. Directors have given CEO Steve Ballmer broad leeway to decide between going hostile or walking away from the bid, and insiders say it could still go either way. An announcement is expected later this week.
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ANALYSIS
Microsoft could nominate proxy slate, wait on hostile offer
Wall Street Journal Apr 30, 08 7:13 AM CDT
(Newser)
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Steve Ballmer's next move on Yahoo is expected momentarily, and one option is to nominate a proxy slate for the board of directors, the Wall Street Journal reports, but hold off on making a new hostile bid for the company. Microsoft could buy time for setting a new price for Yahoo, which rejected the company's $42-billion bid, but keep the option of a hostile campaign later.
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Owner of platforms from newspapers to TV targets Web revenue
Associated Press Apr 29, 08 6:04 PM CDT
(Newser)
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Media outfit Cox is moving into the online business, buying an Internet startup that pools sites’ specialized ad needs, the AP reports. The $300 million purchase of Adify will mean competition for Web giants such as Google and Yahoo, creating an alternative for customers who might previously have relied on the big boys for ad placement.
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Talks quietly die after Yahoo demands $35 a share
Wall Street Journal Apr 27, 08 4:05 PM CDT
(Newser)
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Microsoft may get nasty now that its deadline for a friendly Yahoo purchase expired yesterday. Talks died quietly after Microsoft refused to up its offer from $29.68 a share on Friday; Yahoo execs wanted $35. Microsoft could now press Yahoo, tack back the offer, or deal directly with Yahoo shareholders, the Wall Street Journal reports.
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OPINION
Slow quarter spurs push for acquisitions
BusinessWeek Apr 25, 08 11:52 AM CDT
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Microsoft's first quarter saw flat sales and dipping profits, all the more reason to make nice with Yahoo, Aaron Ricadela writes in BusinessWeek. Steve Ballmer has said he is ready to walk away from the attempted takeover, but with most of Microsoft's revenue coming