Deal brinksmanship or genuine threat? You be the judge.
The Wall Street Journal and Reuters reported on Tuesday that Microsoft has no intention of raising its bid to buy Yahoo beyond its initial offer of $31 per share in late January. And why would they, given that no credible counter offer has materialized.
Despite Yahoo co-founder Jerry Yang’s best efforts to court News Corp and AOL, and a road show with investors to talk up Yahoo’s future, most believe the deal remains Microsoft’s to lose.
Who are the winners in this long drawn out fight? Neither, Silicon Alley Insider’s Henry Blodget suggests. In this industry, the longer you wait, the further you trail.
Keep an eye on:
- Activist investors unveil turnaround proposal for CNET. (Reuters)
- Banks ask court to dismiss suit against them in Clear Channel buyout. (Reuters)
- Is it still high definition if it’s compressed? Ask the cable guys. (Bits)