May 3, 2008...8:37 pm
The Daily Habit: Technology
9:35 pm
Microsoft Shuns Yahoo- In a shocking move today Microsoft withdrew it’s $42.3 billion bid to purchase Yahoo Incorporated. Microsoft was willing to pay $47.5 billion, or $33 per share, up from the bid’s current value of $29.40 per share, according to a letter from Microsoft Chief Executive Steve Ballmer to Yahoo Chief Executive Jerry Yang. But Yahoo demanded at least $53 billion, or $37 per share, according to Ballmer. That would have been nearly double Yahoo’s stock price of $19.18 at the time Microsoft first made its bid a little over three months ago.”Clearly a deal is not to be,” Ballmer explains (Technology: Microsoft Shuns Yahoo). This decision came as a surprise to many industry experts who believed Microsoft would eventually strip the Yahoo board of its power in a hostile takeover. However, Microsoft will not be too far away should Yahoo’s stock continue to tumble in the near future, a sure sign they will not be able to hold off another Microsoft challenge. Well, Jerry (Yang, Yahoo CEO). Looks like you and the rest of the geeks at Yahoo have some job security, at least for a little while. Though a hostile takeover was predicted, you can bet your pocket protectors that this deal ain’t over just yet. Yahoo stock will continue to tumble till it hits the mid to high teens, then Bad Boy Billie Gates will be there with a knife and fork waiting to cut into your lifeless corpse. You should have listened to reason Jerry. You just put another hole in Yahoo’s sinking ship, and the pirates at Microsoft are waiting in the shadows to come aboard and pillage your booty.
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