Yahoo! Formally Rejects Microsoft Offer

malware · Feb 11, 2008

Yahoo! Inc., a leading global Internet company, today said the Yahoo! Board of Directors has carefully reviewed Microsoft's unsolicited proposal with Yahoo!'s management team and financial and legal advisors and has unanimously concluded that the proposal is not in the best interests of Yahoo! and our stockholders.

After careful evaluation, the Board believes that Microsoft's proposal substantially undervalues Yahoo! including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments. The Board of Directors is continually evaluating all of its strategic options in the context of the rapidly evolving industry environment and we remain committed to pursuing initiatives that maximize value for all stockholders.

Goldman, Sachs & Co., Lehman Brothers and Moelis & Company are acting as financial advisors to Yahoo!. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to Yahoo!, and Munger Tolles & Olson LLP is acting as counsel to the outside directors of Yahoo!.

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Betty (Kung Pow) · Feb 11, 2008

suckers

beyond_amusia · Feb 11, 2008

Yahoo is tryin to talk to AOL about merging... If they merge with AOL I will stop using Yahoo completely.

JoJoe · Feb 11, 2008

Yahoo is tryin to talk to AOL about merging... If they merge with AOL I will stop using Yahoo completely.

Oh god, that would be way worse... Time Warner is about as pure evil as they get...

effmaster · Feb 11, 2008

This is only going to Hurt Yahoo's stock.
Because Yahoo's stocks went up a dollar or two on the news of a potential Microsoft takeover. Now with this News Yahoos stock may very well go back down to where it was or worse. Good going Yahoo :shadedshu:

shadedshu This was an unprecedented offer on Microsoft's part and you gave them the cold shoulder shame on you :shadedshu:

shadedshu

Dangle · Feb 11, 2008

Good point effmaster. Besides, Yahoo has nothing to offer besides a user base.

MrW · Feb 11, 2008

Dangle said:
Good point effmaster. Besides, Yahoo has nothing to offer besides a user base.

An extremely large user base. I don't think it is worth $40,000,000,000 but I think yahoo should still hold out for more money anyway. If Microsoft/Google/TimeWarner wants the foothold they should have pay for it.

bruins004 · Feb 11, 2008

effmaster said:
This is only going to Hurt Yahoo's stock.
Because Yahoo's stocks went up a dollar or two on the news of a potential Microsoft takeover. Now with this News Yahoos stock may very well go back down to where it was or worse. Good going Yahooshadedshu This was an unprecedented offer on Microsoft's part and you gave them the cold shoulder shame on youshadedshu

Actually you are incorrect.
Yahoo stock has so far gone up and Microsoft stock is down for the day.

The main reason for this is bc Yahoo is showing strength to investors by doing this.
Of course, this has the opposite impact on Microsoft.
Now if Yahoo gets another offer it is only going to make Yahoo shoot up even more

thoughtdisorder · Feb 11, 2008

Yahoo stock will do fine. For the top shareholders to turn down this offer there must be an offer working in the background that is being kept quiet for now. :confused:

effmaster · Feb 12, 2008

bruins004 said:
Actually you are incorrect.
Yahoo stock has so far gone up and Microsoft stock is down for the day.

The main reason for this is bc Yahoo is showing strength to investors by doing this.
Of course, this has the opposite impact on Microsoft.
Now if Yahoo gets another offer it is only going to make Yahoo shoot up even more

I did say that Yahoos stock went up it very well did but Im saying it went up after the offer by Microsoft to buy them out. Now that they have declined the offer the stocks that went up for yahoo on the potential for a Microsoft takeover, could potentially go back down or possibly even lower.

Ravenas · Feb 12, 2008

effmaster said:
I did say that Yahoos stock went up it very well did but Im saying it went up after the offer by Microsoft to buy them out. Now that they have declined the offer the stocks that went up for yahoo on the potential for a Microsoft takeover, could potentially go back down or possibly even lower.

Yahoo's stock is still up right now, it could be that their stock will gradually decline, but for now it's up.

happita · Feb 12, 2008

This just makes me get giddy

effmaster · Feb 13, 2008

Yahoos stock fell 30 cents on the day after this news.
I think that we can only expect more of this to happen the following day AKA tomorrow.

http://finance.yahoo.com/q?s=YHOO

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Yahoo! Formally Rejects Microsoft Offer

malware

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Betty (Kung Pow)

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