Yahoo Rejects Microsoft Bid
Yahoo Rejects Microsoft Bid
by , 10:55 AM EST, February 11th, 2008
Yahoo officially rejected Microsoft's unsolicited buyout offer on Monday. The Internet search company turned down the US$44.6 billion offer stating that Microsoft undervalued it, and that it was acting in its shareholder's best interests.
Yahoo's Board of Directors unanimously rejected the take over bid and added "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."
Microsoft presented Yahoo with a combined cash and stock buyout offer after the company reported a 23 percent drop in earnings and said that it was planning to cut 1,000 jobs in February. The Redmond-based company hoped to leverage Yahoo to gain a larger slice of the online advertising market and to better compete with Google.
While Yahoo rejected Microsoft's offer, that doesn't necesarily mean the proposed buyout is dead in the water. Microsoft could counter with a new offer, or attempt a hostile takeover.
So far, Microsoft has not responded to Yahoo's rejection.
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112
Fatal error: Call to a member function sql_query() on a non-object in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 532
Recent Headlines - Updated June 19th
- Wed, 4:52 PM
- Product News - AltaMail 5.0 Brings Attachments, Templates, More from the Desktop to iOS
- 3:45 PM
- Analysis - Apple Lands Important Deal for 30,000 iPads in LA Schools
- 2:35 PM
- Analysis - B&N Drops Bombshell in DOJ’s Price Fixing Case Against Apple
- 2:04 PM
- TMO Interview - Dave Teare at WWDC: How One Month for 1Password Became 8 Years
- 10:17 AM
- News - HBO GO, WatchESPN & More Come to Apple TV
- 9:29 AM
- Solar iPhone Chargers Coming to NYC
- 8:20 AM
- TMO Quick Tip - iOS: Prevent Unauthorized Siri Use
- Tue, 8:38 PM
- Editorial - Apple Offers Retail Employees Early Access to OS X Mavericks
- 6:41 PM
- Steve Wozniak Presides Over 3 Working Apple I Computers
- 4:35 PM
- TMO Interview - Alf Watt at WWDC: The Journey from iStumbler to Apple and Beyond
- 3:47 PM
- Product News - Apple Updates Java for Snow Leopard, Lion, Mountain Lion
- 2:01 PM
- Chatology Offers Search & Filtering Options for Apple’s Messages & iChat
The Mac Observer Reader Specials
-
-
-
-
-
-
-
-
-
Support TMO, Buy from Amazon, MacMall and The Apple Store
