Posts filed under “M&A”

What Is Yahoo Actually Worth, Part II ?

A few weekends ago, I asked the following questions:

- What are Yahoo (YHOO) shares actually worth? Both now, and 3-5 years from now?
- When Yahoo’s stock gets whacked due to Mr. Softee’s walkaway, does this create an opportunity?Indeed, if Microsoft (MSFT) believed Yahoo was worth $33, wouldn’t that imply the company has a value above
the January 31 pre-bid price of $19 ? 
- The key is whether there are any other bidders lurking put there.

Well, via CNBC, the latest rumor broke today about another bidder– Carl Icahn — as much as 50 million shares. Its helped rallied the markets nicely off the lows (other than that, there’s not a whole lot else going on)

Paul is having none of it, and instead suggests a Yahoo-Build-A-Rumor sort of thing . . .


UPDATE: March 13, 2008 4:54pm

WSJ is now reporting this as true: Icahn Enters Microsoft-Yahoo Fray:

Billionaire investor Carl Icahn has amassed a stake in Yahoo
Inc. and is leaning toward launching a proxy contest to unseat at least
part of Yahoo’s board, according to one person familiar with the

Mr. Icahn bought roughly 50 million Yahoo shares since Microsoft
Corp. on May 3 withdrew its unsolicited offer to buy Yahoo, the person
said. Mr. Icahn is expected to decide Wednesday whether to launch a
proxy contest — a Yahoo deadline for board nominations looms Thursday
– and he currently has no assurances from Microsoft it would
reconsider a Yahoo purchase. The person said that Mr. Icahn was unsure
whether he would nominate a full or partial slate of candidates to try
to replace Yahoo’s 10-person board. A shareholder vote on any such
nominees would take place at Yahoo’s annual shareholder meeting on July


What Is Yahoo Actually Worth ?   (May 4, 2008)

Was a Private Equity Bid for Yahoo Thwarted by Microsoft ?   (February 11, 2008)

Category: M&A, Markets

Good Morning

Category: M&A, Weblogs

Huge Project in the Works!

Category: Corporate Management, M&A, Politics, Psychology

What Is Yahoo Actually Worth ?

Category: Corporate Management, M&A, Valuation

Fed Opens Yahoo Lending Facility (YLF)

Category: Corporate Management, Federal Reserve, M&A, Web/Tech

Ballmer, Yang Agree to See Other People

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