Posts filed under “M&A”
Its not you, its me . . .
Is that it? After all that sturm und drang, the chase ends like this? Microsoft sweetened its offer to $33, knowing full well that Yahoo was going to stand firm at $37 a share, and reject the sweetened bid. Hence, Ballmer got his face saving way to walk without further humiliation.
Why am I not surprised? Two of the least sexy internet names end not with a bang but a thud. Could we have seen at last the end of the dinosaur mating dance?
My friend Paul at Infectious Greed observes:
"This has a been a risky and poorly managed affair from end-to-end. Both CEOs deserve immense blame — Ballmer for vacillating; Yang for running a public company without the foremost regard for shareholders — and they are likely to be the two people who suffer the most indignities (including possible termination) over the coming weeks and months."
Not a bad sentiment, but I doubt either board has the stones to fire their execs.
I have an idea for everybody involved: Why doesn’t the Fed kick in the additional $8 billion or so to make this happen? I mean, isn’t that the role of the central bank?
Microsoft Withdraws Its Bid for Yahoo
MIGUEL HELFT and ANDREW ROSS SORKIN
NYT, May 4, 2008
Microsoft withdraws offer for Yahoo
Yahoo Finance, 26 minutes ago
Is Rupert Murdoch’s altering of the Wall Street Journal creating an opening for his competitors? That was one of the topics we discussed at Tuesday evening’s NYU lecture on media, business, and blogging. This morning, we are going to briefly explore that. In the past, I have offered up advice to various media. I have…Read More