Microsoft Completely Walks Away From Yahoo Deal
Source: Tom's Guide US | Keywords: Microsoft, Yahoo
If there were any hopes left that Yahoo and Microsoft would find a way to renegotiate a possible acquisition of Yahoo, they were squashed today.
Yahoo said that discussions with Microsoft "regarding a potential transaction - whether for an acquisition of all of Yahoo or a partial acquisition - have concluded." Yahoo said that company representatives met on June 8, during which both parties "unequivocally [stated] that Microsoft is not interested in pursuing an acquisition of all of Yahoo, even at the price range it had previously suggested."
Yahoo’s Board of Directors said it has determined that the previously proposed a transaction "would not be consistent with the company’s view of the converging search and display marketplaces" and would leave the company without an independent search business that it views as critical to its strategic future.
Yahoo’s board attempted to gamble this acquisition, to many angry responses and Microsoft called Yahoo’s bluff."
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Phil Schiller's Greasy Fingers...
Wait, hopes? Who would hope for a Microsoft Yahoo merger (besides shareholders), and Yahoo's bluff? What?
I don't know. It didn't seem like Yahoo wanted to play ball at all. It looked like certain Yahoo execs wanted no part of a Microsoft merger, despite the profitability, and were making efforts to make Yahoo less appealing to Microsoft when they took things to the shareholders in a hostile takeover. Why else would Yahoo propose merging with AOL, if not to fortify themselves against a hostile takeover? The shareholders would have made money off this deal, and should be pissed, but this feels like a victory for Yahoo execs to me.
Anyway, thank god. The idea of Microsoft getting their dirty hands on a company like Yahoo... made me cringe. It will be interesting what Microsoft's next merger move will be...
It will be more interesting to see what Yahoo does next and how the company will fair in say 5 years?
Yahoo has been going in the sh*tter for a while now i hardly even know anyone that uses its crap anymore. They blew it.