Yahoo! replies to Microsoft's demands: Show us the friggin' money!

by Brad Linder Apr 7th 2008

Oh, Microsoft, Yahoo!, when are you going to stop fighting and realize that you're in love with each other? Yahoo!'s board of directors has responded to a letter from Microsoft CEO Steve Ballmer demanding action within 3 weeks. In a nutshell, Ballmer told Yahoo! that if the company didn't accept Microsoft's buyout offer, Microsoft would lower its bid and try to replace the Yahoo! Board. So what does Yahoo!'s current board have to say?

In a pistachio shell:

We already told you no.
Well, we might say yes, but we'd need more money
I mean seriously, $31 per share? What's up with that. And have we mentioned that your stock is dropping, so your offer is worth less today then when you made the offer?
We keep launching new products like a new advertising platform that add value to our brand. And you're trying to buy us for $31 per share? Hmph.
You think you're the only one interested in taking us to the prom? We've got lots of suitors. Really.
Don't bully us.

All of which is to say that Yahoo! has not closed the door on a possible merger with Microsoft. But Microsoft's either going to have to follow through on Ballmer's threat to wage a proxy battle or raise its asking price.

Tags: acquisition, merger, microsoft, steve-ballmer, yahoo

Reader Comments (Page 1 of 1)

finnwenzel said 9:13AM on 4-07-2008

Yes

Andrew Pollack said 9:59AM on 4-07-2008

From Yahoo's perspective, why NOT allow a proxy battle? If nothing else, it will likely raise the stock price those at Yahoo who makes decision hold so much of. Its not like the execs or board at Yahoo will want to keep their positions or secure a place in the MS management at the end of the process anyway.

Mark said 8:29PM on 4-07-2008

Because being ousted is a lot more shameful and a lot less likely to get you employed elsewhere. Furthermore, no severance package that might've been offered by MS and no chance at staying after the merger. Might've been a chance before.

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