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Yahoo Inc.'s board plans to reject Microsoft Corp.'s unsolicited $44.6 billion offer to acquire the Web giant, a person familiar with the situation says.
That didn’t take long. Two days after Microsoft CEO Steve Ballmer sent a three-week acquisition ultimatum to Yahoo’s board, Yahoo answered with its own letter.
Microsoft CEO Steve Ballmer and his troop of strategists, lawyers, accountants, and bankers are done seeking a peaceful resolution with Yahoo's board of directors.
We have seen extensive press coverage of Microsoft's pursuit of Yahoo over the last few months, including notably excellent coverage from Silicon Alley Insider and the Wall Street Journal. However, I have not seen a detailed analysis of how a full hostile takeover might play out -- the kind of analysis that you would be receiving if you were a Microsoft or Yahoo board member.
Option investors bet heavily on Monday that Yahoo might strike a deal of some sort with Microsoft Corp, spurred on in part by pressure from activist shareholder Carl Icahn.
Microsoft has proposed an alternative deal for Yahoo, a complex transaction that would include just buying Yahoo's search business, rather than a full buyout, a person familiar with the discussions said on Monday.
Google Inc. Chief Executive Eric Schmidt called Yahoo Inc. CEO Jerry Yang to offer his company's help in any effort to thwart Microsoft Corp.'s unsolicited $44.6 billion bid for Yahoo, say people familiar with the matter.
After several months of discussion and speculation, the Microsoft-Yahoo buyout deal is apparently off. At least, that's what both Microsoft and Yahoo announced over the weekend. There is some speculation that Microsoft CEO Steve Ballmer made his announcement in order to topple Yahoo's share price, in order to make another offer at a lower price.
