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[wired]Microsoft Threatens to Go Hostile on Yahoo

post #1 of 10
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Quote:
Microsoft says Yahoo has three weeks to negotiate a decent deal, after which time Microsoft is going to get medieval on its ass. The company sent out a letter to Yahoo's board, whining about how there hasn't been any meaningful progress in negotiations, and in the meantime, the equity markets are tanking.
From the letter:
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.
But as we seem to recall, Yahoo did respond to Microsoft in February -- its consistent message has been that the Microsoft offer "substantially undervalues" the company. And while Microsoft argues that a hostile bid will have "an undesirable impact" on Yahoo, a hostile proxy battle is the surest path to mutually assured destruction. Microsoft shares have already fallen more than 10 percent since the company first sprang its unsolicited bid on Yahoo, and market research has shown that it can take years before companies recover from a hostile proxy battle. Nothing good can come of it -- it's an expensive distraction that could result in a mass exodus and leave both companies worse off than they were before.
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post #2 of 10
What the hell?
Yahoo doesn't have to take the offer, what right does Microsoft have in attacking their own company like that?

Knowing that they money they are offering undervalues the company (And they admit it too!). Take this to court and you know who's going to lose, regardless of how good of court team MS would have.
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post #3 of 10
Quote:
Originally Posted by Malachor View Post
What the hell?
Yahoo doesn't have to take the offer, what right does Microsoft have in attacking their own company like that?

Knowing that they money they are offering undervalues the company (And they admit it too!). Take this to court and you know who's going to lose, regardless of how good of court team MS would have.
Uh, they don't admit that anywhere.
post #4 of 10
Quote:
Originally Posted by SgtSpike View Post
Uh, they don't admit that anywhere.
Quote:
its consistent message has been that the Microsoft offer "substantially undervalues" the company. And while Microsoft argues that a hostile bid will have "an undesirable impact" on Yahoo
Yeap it's no where in the article.
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post #5 of 10
Quote:
Originally Posted by Malachor View Post
Yeap it's no where in the article.
They may say that, but what they're offering is much more than what yahoo is worth.
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post #6 of 10
Quote:
Originally Posted by Malachor View Post
What the hell?
Yahoo doesn't have to take the offer, what right does Microsoft have in attacking their own company like that?

Knowing that they money they are offering undervalues the company (And they admit it too!). Take this to court and you know who's going to lose, regardless of how good of court team MS would have.
They have all right. It part of business. I take business studies and this is a normal thing.
post #7 of 10
I bet Google is praying for MS to go hostile on them =p Google can only gain from a hostile takeover.
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post #8 of 10
Quote:
Originally Posted by Coma View Post
I bet Google is praying for MS to go hostile on them =p Google can only gain from a hostile takeover.
Google takes advantage of fight between Microsoft and Yahoo. The popular search engine Google gives out a beta version of their upcoming OS that comes with 10 dollars off Google check out just for using it. That's right, we are going to pay you to make the switch.
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post #9 of 10
Quote:
Originally Posted by CrazyHeaven View Post
Google takes advantage of fight between Microsoft and Yahoo. The popular search engine Google gives out a beta version of their upcoming OS that comes with 10 dollars off Google check out just for using it. That's right, we are going to pay you to make the switch.
???
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post #10 of 10
That was a joke. I quoted a person that said google can only gain from this and made a joke about it.
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