Posts filed under “M&A”

Ballmer, Yang Agree to See Other People

Its not you, its me . . .

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Yahoo_signage
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?


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Source:
Microsoft Withdraws Its Bid for Yahoo
MIGUEL HELFT and ANDREW ROSS SORKIN
NYT, May 4, 2008
http://www.nytimes.com/2008/05/04/technology/04soft.html

Microsoft withdraws offer for Yahoo   
Anupreeta Das
Yahoo Finance, 26 minutes ago
http://news.yahoo.com/s/nm/20080504/bs_nm/microsoft_yahoo_dc_12

Category: Corporate Management, Federal Reserve, M&A

Defending Bernanke

Category: Commodities, Federal Reserve, Inflation, M&A

Bear Stearns Bailout “Worst Fed Mistake in a Generation”

Category: Federal Reserve, M&A

Report on UBS’ $37 Billion Writedown

Category: Corporate Management, Credit, Derivatives, Finance, Fixed Income/Interest Rates, M&A

Murdoch’s WSJ Changes Creates Opening for NYT, FT

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

Category: Corporate Management, Financial Press, M&A

Today’s Infoporn: Follow the Money in Global Dealmaking

Category: Credit, Finance, M&A

Arthur Levitt on the Bear Bailout, SEC, Fed

Category: Credit, Federal Reserve, M&A

JPM Deal: Buy Bear Stearns HQ, Get iBank (almost) Free!

Category: M&A

History of Panic Buying

Category: Investing, M&A, Psychology, Trading

Two Dollars/share, or an “Orderly Liquidation” ?

Category: Corporate Management, Credit, Derivatives, M&A