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Microsoft gives Yahoo 3 weeks to finalize the deal to acquire Yahoo.

Discussion in 'Bing' started by Germz, Apr 5, 2008.

  1. #1
    April 5, 2008
    Board of Directors
    Yahoo! Inc.
    701 First Avenue
    Sunnyvale, CA 94089

    Dear Members of the Board:

    It has now been more than two months since we made our proposal to acquire Yahoo! at a 62% premium to its closing price on January 31, 2008, the day prior to our announcement. Our goal in making such a generous offer was to create the basis for a speedy and ultimately friendly transaction. Despite this, the pace of the last two months has been anything but speedy.

    While there has been some limited interaction between management of our two companies, there has been no meaningful negotiation to conclude an agreement. We understand that you have been meeting to consider and assess your alternatives, including alternative transactions with others in the industry, but we’ve seen no indication that you have authorized Yahoo! management to negotiate with Microsoft. This is despite the fact that our proposal is the only alternative put forward that offers your shareholders full and fair value for their shares, gives every shareholder a vote on the future of the company, and enhances choice for content creators, advertisers, and consumers.

    During these two months of inactivity, the Internet has continued to march on, while the public equity markets and overall economic conditions have weakened considerably, both in general and for other Internet-focused companies in particular. At the same time, public indicators suggest that Yahoo!’s search and page view shares have declined. Finally, you have adopted new plans at the company that have made any change of control more costly.

    By any fair measure, the large premium we offered in January is even more significant today. We believe that the majority of your shareholders share this assessment, even after reviewing your public disclosures relating to your future prospects.

    Given these developments, we believe now is the time for our respective companies to authorize teams to sit down and negotiate a definitive agreement on a combination of our companies that will deliver superior value to our respective shareholders, creating a more efficient and competitive company that will provide greater value and service to our customers. If we have not concluded an agreement within the next three weeks, we will be compelled to take our case directly to your shareholders, including the initiation of a proxy contest to elect an alternative slate of directors for the Yahoo! board. The substantial premium reflected in our initial proposal anticipated a friendly transaction with you. If we are forced to take an offer directly to your shareholders, that action will have an undesirable impact on the value of your company from our perspective which will be reflected in the terms of our proposal.

    It is unfortunate that by choosing not to enter into substantive negotiations with us, you have failed to give due consideration to a transaction that has tremendous benefits for Yahoo!’s shareholders and employees. We think it is critically important not to let this window of opportunity pass.

    Sincerely,

    Steven A. Ballmer
    Chief Executive Office
    Microsoft Corp.




    Read more about it here.
    http://www.thegermz.com/my-ramblings/war-of-the-words
     
    Germz, Apr 5, 2008 IP
  2. hmansfield

    hmansfield Notable Member

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    #2
    I love a good slap fight. Microsoft seems intent on having their way no matter what.
     
    hmansfield, Apr 5, 2008 IP
  3. Germz

    Germz Peon

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    #3
    Didn't they do the same thing with netscape?
     
    Germz, Apr 5, 2008 IP
  4. cool_78

    cool_78 Guest

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    #4
    The pressure is on! Will Yahoo fold?
     
    cool_78, Apr 5, 2008 IP
  5. lpstong

    lpstong Well-Known Member

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    #5
    Yes they will. The question would be would Micosoft stay firm of offering only the $31 per share. Or would they offer a few dollars more. Do you think Yahoo can get them to buy at $35 what do you think?
     
    lpstong, Apr 5, 2008 IP
    bogart likes this.
  6. MMandYOu

    MMandYOu Peon

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    #6
    Well Google is the monopoly with 90% of the market....microsoft has what 5%.....microsoft aint the bully here.
     
    MMandYOu, Apr 5, 2008 IP
  7. whooped

    whooped Peon

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    #7
    No, I think Yahoo has sort of pissed off Microsoft by contacting everyone else available, and even considering a partnership with Google. Plus, Microsoft knows that it's overpaying already. Yahoo has nothing significant in technology and innovation that Microsoft can't emulate. Finally, Microsoft has Yahoo backed in a corner. If they don't sell out, their shares will crash to $15, maybe even $10.
     
    whooped, Apr 5, 2008 IP
  8. bogart

    bogart Notable Member

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    #8
    Yahoo is declining and $31 is a good deal for them
     
    bogart, Apr 6, 2008 IP
    wisdomtool likes this.
  9. pioneer1

    pioneer1 Peon

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    #9
    Yahoo wants more than $31 a share. They say MSN offer is too low
     
    pioneer1, Apr 6, 2008 IP
  10. davejonesbkk

    davejonesbkk Peon

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    #10
    Does anyone know how this buyout is going to affect the end users?
     
    davejonesbkk, Apr 6, 2008 IP
  11. mattcch2007

    mattcch2007 Peon

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    #11
    Agreed, this is the fact now.
    It is a very difficult decision for yahoo as wondered!.

    An unchanged pattern is that more paid services providers imply more low price competition between the competiters.
    Price maybe go lower for consumers/advertisrs as they will have more choices to choose or buy the ads slots;


    on the other side, the ads companies may pay more to absorb more publishers/webmasters to join them.

    So both advertisers and web owners may be benefitial at the end.I vote for more competitors than a big one.

    This is only from the view of our profits and for your reference only!!!


    <>mattcch200<> April 2008:):)
     
    mattcch2007, Apr 6, 2008 IP
  12. Buhzookuhman

    Buhzookuhman Banned

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    #12
    Microsoft is so sweet, I loved that letter. I would poop on my self if I was yahoo after reading that.
     
    Buhzookuhman, Apr 6, 2008 IP
  13. Germz

    Germz Peon

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    #13
    Why is google not put in trial for monopoly?
     
    Germz, Apr 6, 2008 IP
  14. tempscript

    tempscript Guest

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    #14
    Well, I think yahoo isn't doing anything good anyway, maybe Microsoft will improve it, maybe not...
     
    tempscript, Apr 6, 2008 IP
  15. bogart

    bogart Notable Member

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    #15
    Yahoo is a lot of good stuff going on but they have no momentum
     
    bogart, Apr 6, 2008 IP
  16. letsjoy

    letsjoy Well-Known Member

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    #16
    Now its called power show of a Gaint :D
     
    letsjoy, Apr 6, 2008 IP
  17. grace555

    grace555 Member

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    #17
    Well MS could do no worst to running Yahoo and their publishers network.
    YPN is not getting better...
    So I am all for it hope they wake up and smell the ...money
     
    grace555, Apr 6, 2008 IP
  18. Brandon Sheley

    Brandon Sheley Prominent Member

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    #18
    It'll never happen ;)
     
    Brandon Sheley, Apr 6, 2008 IP
  19. worldman

    worldman Well-Known Member

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    #19
    your facts are screwed. Its more like 60%.
     
    worldman, Apr 6, 2008 IP
  20. Badlands07

    Badlands07 Well-Known Member

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    #20
    This is going to be very interesting....:) Their cultures are very different and a merger of this magnitude may end up like the Time/Warner - AOL merger.
     
    Badlands07, Apr 6, 2008 IP