Gates on Yahoo! Bid
Not a dime more than $31 (USD) per share Gates says to Yahoo!. Of course, that’s according to Yahoo!’s own news service. 😉 Indeed, it’s interesting to watch this clip and note all the things that aren’t said; either because my work this past week on the documentation system for Commerce Server 2007 SP2 occupies too much time for the various news services to reach me trough the deluge that is my personal email service and keep me updated or because Yahoo! (for some reason) isn’t saying all the things the other news services like CNet’s News.com service are (or some combination thereof).
The Associated Press (AP) clip was likely edited for brevity, but was the only video segment tonight on Yahoo! Canada’s news site that I could find. There’s no mention of the upcoming shareholders’ meeting where Microsoft intends to let candidates selected by its own management stand for election. And no mention of recent punditry citing the fact that several companies Microsoft is closely partnered with already sit on Yahoo’s board (albeit not enough to form a majority), nor is there mention of the share holdings of those partners which also are significant.
Of course, there is a real danger here that if another suitor comes along offering more than $31, any deal between Microsoft and Yahoo! will be done. And Yahoo’s definitely pulling out all the stops to fight off the takeover – this past week, Yahoo started laying off staff (totalling 1,000 so far) to help bolster its share price and prevent Redmond from moving in.
The Yahoo story cited a falling share price, but one has to wonder whether that dynamic had anything to do with the Yahoo takeover talk, or whether it will continue with Yahoo starting to look desperate in its efforts to partner with Google and News Corp., denying the software industry’s "evil empire" a foothold in the business of online advertising. Taken in concert with failed earlier attempts to win the attention of Time Warner & AOL – it’s not looking like Yahoo will end up with an alliance that will beat $31.
To top off everything, a small group of Yahoo’s shareholders has launched a lawsuit in the United States against Yahoo, claiming the board is trying to stonewall the Microsoft offer, which is – to them at least – extremely attractive. I suppose one can’t be too surprised that this wasn’t in the coverage offered by Yahoo’s news service, although what was contained therein made it seem (to me) that the Microsoft offer was in some real danger.
We could know for certain as early as next week. Stay tuned…
- CNET News.com Special Coverage: Microsoft’s Big Bid for Yahoo
As developments warrant, return here to read the insight of one developer on this remarkable and evolving story!