Microsoft’s Yahoo road show: the sequel

May 8, 2008

MediaFile wrote last week about Steve Ballmer’s world tour to promote Microsoft’s unsolicited takeover bid for Yahoo. Now that the Microsoft has walked away and the odds for Microhoo aren’t looking so hot, Microsoft execs have fanned out across the globe to explain the company’s decision. To Skhirat, Morocco, San Donato Milanese, Italy and Louvain-la-Neuve, Belgium, we can now add Seoul, London and Jakarta.

Let’s put them up on the big board!

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I believe personally this is all smoke and mirrors. Just a big game. I think this deal will eventually be done within the next few weeks. Neither company has much choice if they are to compete

Posted by Jay | Report as abusive

In the immediate aftermath of the retreat of Microsoft Corp in its several-months-long effort to acquire Yahoo! Inc, the Sunnyvale-based company’s stock lost 15 percent of its value, which raised speculation in the business-news media that dissident shareholders will mount an offensive to oust the company’s current Board of Directors as a punishment for not accepting a deal with Microsoft. In a company statement issued on Saturday, it was obvious that Yahoo Chairman Roy Bostock remained unrepentant with regard to the position that the company’s Directors staked out in response to Microsoft’s bid. From the beginning of this process, our independent board and our management have been steadfast in our belief that Microsoft’s offer undervalued the company and we are pleased that so many of our shareholders joined us in expressing that view,” Mr. Bostock said in the company’s statement. “Yahoo! is profitable, growing, and executing well on its strategic plan to capture the large opportunities in the relatively young online advertising market,” he added. Yet the company’s shareholders could remain skeptical over whether its Directors acted in their best interest. Indeed, many of the shareholders may even be irate over what many could see as the company passing up a good offer from Microsoft, especially after the Redmond company increased its bid during the later stages of negotiations. This dissatisfaction could cause many of Yahoo’s shareholders to attempt the ouster of its Directors.

Posted by NewsVisual | Report as abusive