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 Send to email | Yahoo To Microsoft: Stop Distorting Truth, Our Business Solid in YHOOMSFT |  By Silicon
el 07-Apr-2008 |
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 Yahoo (YHOO) publishes its response to Microsoft's threat (MSFT). Key points:
- Our business is in line with our previous forecasts (contrary to Microsoft's assertions). This is not news, and it is not nearly as powerful a statement as it would have been if Yahoo had said our business is "ahead" of previous forecasts. However, it's better than missing.
- We are not opposed to selling to Microsoft at a higher price. This is obviously designed to address the charge that Yahoo has a patholigical block against selling to Microsoft.
- Contrary to Microsoft's assertions, our new three-year financial plan "has received positive feedback from our stockholders." This is weak. Of course shareholders reacted positively to the plan. But that's all it is--a plan. Microsoft is offering cash.
- You mischaracterized our discussions in your letter. This one is strong. "Steve, you personally attended two of these meetings
and could have advanced discussions in any way you saw fit." Translation: We're the reasonable and honorable ones here. You're distorting the truth to try to scare our shareholders into caving. They--and we--deserve better.
- We have asked you for anti-trust information that you have refused to provide. Translation: Again, we're the reasonable ones here.
- We're happy to sell to you, but we're not going to allow you to steal the company. Again, strong.
The only truly meaningful point here is the first one, and until we get hard details on the first quarter and full-year outlook, it's hard to know for certain where things stand. As we said on Saturday, we think Yahoo's only escape from Microsoft's ultimatum is to have posted a strong first quarter and raise its outlook for the rest of the year. This would bolster Yahoo's argument that it is worth more, especially since the stock market and Google have bounced off its recent lows. It would also make it very difficult for Microsoft to cut its bid and still have Yahoo shareholders take it seriously.
Meanwhile, the Post says Yahoo is still negotiating seriously with AOL about a deal in which Time Warner spins AOL into Yahoo in exchange for 20% of Yahoo's equity. This would make great sense, and the companies should have done it six months ago. The only way the move will help stave off Microsoft, however, is if Yahoo's own performance is strong.
See Also:
Microsoft Gives Yahoo Ultimatum: Sign Deal in 3 Weeks or We Cut Bid
Yahoo-AOL Merger Would Make Great Sense, Won't Happen
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| Microsoft to Yahoo: ?We moved on? |  After Jerry Yang did a 180 and nearly begged Microsoft to buy Yahoo, the rumor mills have been churning with commentary on the decline of Yahoo and speculation about what a potential Microsoft acquisition would involve. Steve Ballmer, while at a business luncheon in Sydney, put an end to all this rampant speculation by saying,
We [...] [..] Read complete article | | Published 07-Nov-2008 by Kelly Hodgkins in NewsacquisitionJerry Yangmicrosoftsteve ballmerYahoo
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Gossip, news and leaks for obsessive gamers Kotaku As if you don't waste enough of your time in a gamer's haze, here's Kotaku: a gamer's guide that goes beyond the press release. Gossip, cheats, criticism, design, nostalgia, pred |
| Nerdblog | Blogger | Provides news about hardware, software, notebooks, laptops, PCs, Mac, PDAs
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| Microsoft Withdraws Bid for Yahoo! | | Microsoft withdrew its $42.3 billion bid to buy Yahoo Saturday after last-ditch efforts to come to terms on a price proved unsuccessful. Microsoft was willing to pay $33 a share, but Yahoo wanted $37. “Clearly a deal is not to be,” Microsoft CEO Steve Ballmer wrote in a letter to Yahoo.
Wired.com [..] Read complete article | | Published 04-May-2008 by Nerdblog in General
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