Microsoft Tries To Slurp Up Yahoo
The tech world has been hearing rumblings and whispers that Microsoft wanted to add Yahoo to its fold, but now it's official: Big Evil wants it bad.
The announcement came out of nowhere this morning, with a barrage of reports that The Empire has offered more than $44,000,000,000 for the sagging search site. Details are not immediately available, but the deal is reportedly $31 per share, well over the stock's selling price, and will involve both cash and stock. No word yet on whether Yahoo was anticipating the offer, or what reaction its shareholders may have.
With recent trends at the company, a sixty-four percent profit has to be looking pretty good, even if the buyer is twirling its mustache and tying helpless users to the tracks. Stay tuned for more.
UPDATE: The London Times is reporting that Microsoft approached Yahoo late last night with an offer for a "friendly takeover," but was rejected. The offer has pushed Yahoo's stock up more than 50%, and boosted the US stock indexes in pre-opening trading. Read more.
ROUND 2: The Guardian has now published the text of Microsoft's offer letter to Yahoo's Board. Don't miss the part where Ballmer reminds them of Microsoft's previous buyout offer, and tells the Board that "A year has gone by, and the competitive situation has not improved." Read the full text.
ROUND 3: Ballmer has now held a conference call outlining Microsoft's motives and modus operandi. It's apparently all about scale(s) — something we'd expect Satan's Little Helper to have plenty of. Read all about it.
ROUND 4: CNET is now chiming in with an analysis of the potential implications on Open Source. Read more.
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Comments
I've been hearing about this
I've been hearing about this for the last few months, but it doesn't seem like there's been any progress for a while. Although I can only admire the job that Google have achieved with search, a Microsoft and Yahoo join may at last provide some competition to the dominate force that Google is. I can only help that there may be an agreement soon.
Gerald
(PC Satellite TV Webmaster)
It's About the Political Landscape!
Plan A:
Balmer's possible position in a McCain administration.
Plan B:
Get this deal done NOW because conservatives WILL NOT support McCain, McCain and the Republicans will lose in '08, and the anti trust arm of the US Government WILL function correctly again.
IE IF you are a large corrupt corporation, NOW is the time...
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