Did you think Microsoft- Yahoo deal was over? Far from it.
It is now looking no less than a Bollywood potboiler. Microsoft now says that if the current yahoo bosses go away and the new board comes in, it is ready to re-enter the negotiations !
Michael Arrington of Techcrunch has written about it in detail and is not too happy with the way Microsoft is bullying Yahoo – just because it is now in a position to do that.
Yesterday Microsoft released a statement clearly mentioning that it is not interested in talking with the current management and do not trust that they can take this forward.
Despite working since January 31 of this year, as well as in the early part of last year, we have never been able to reach an agreement in a timely way on acceptable terms with the current management and Board of Directors at Yahoo!. We have concluded that we cannot reach an agreement with them. We confirm, however, that after the shareholder election Microsoft would be interested in discussing with a new board a major transaction with Yahoo!, such as either a transaction to purchase the “Search” function with large financial guarantees or, in the alternative, purchasing the whole company.
As we explained on June 12 when Yahoo! announced an agreement with Google, we believe that our proposed search acquisition and partnership would have delivered superior value to Yahoo!’s shareholders and the marketplace as a whole. We have not changed our position, even as we continue to move forward with our own online search and advertising offerings. We therefore welcome interest by Mr. Icahn in pursuing this and other discussions.
While of course there can be no assurance of a future transaction, we will be prepared to enter into discussions immediately after Yahoo!’s shareholder meeting if a new board is elected.
I would be interested in knowing what do readers feel?
This is also the question for our next poll:
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Author: Arun Prabhudesai
Arun Prabhudesai is founder / chief editor at trak.in. He jumped the Entrepreneurship bandwagon in early 2008 after a long 13 year stint in I.T Industry. You can follow him on twitter @trakin or get in touch with him at admin-at-trak-dot-in or 91.9822575676.Related posts:
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{ 3 comments… read them below or add one }
I hardly think that this is bullying, it’s required in business. Especially with someone as incompetent as Jerry Yang (as a CEO) who could really have gotten a great deal early on, this seems great.
And if Google wants to monopolize share for themselves (by buying out only Yahoo’s search and leaving the rest of the company to die) then I think this would be amazing competition!
Icahn definitely has shareholders view in interest. I don’t see where exactly Yang’s interests lie (except to keep the name of the company he built and brought to loss over a year as a CEO).
It is only a matter of time before Yahoo is owned by Microsoft and is not a question of if but rather of when.
This is good news for those who in favour of google because the yahoo did not goes to tieup with microsoft.
As we explained on June 12 when Yahoo! announced an agreement with Google, we believe that our proposed search acquisition and partnership would have delivered superior value to Yahoo!’s shareholders and the marketplace as a whole. We have not changed our position
vicky
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