Microsoft has decided to withdraw its bid for Yahoo. Microsoft felt that if they were to meet Yahoo’s offer it would be bad for their business and their shareholders. Even though Microsoft offered a max of $33 / share, Yahoo felt they were worth $37 / share. Which is interesting considering they were trading around $20 in January and likely to head further down as their earnings continue to shrink. So Google remains the king of search ads.
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Categories: Current Events, Invest Tags: bid, DOW, finance, GE, Google, GS, interest, Microsoft, offer, search, Yahoo
Google: Microsoft Deal Bad for Internet
Sunday February 3, 9:24 pm ET
By Michael Liedtke, AP Business Writer
Google Rips Microsoft’s Proposed Takeover of Yahoo, Saying It Would Stifle Internet Innovation
SAN FRANCISCO (AP) — Google Inc. raised the specter of Microsoft Corp. using its proposed $42 billion acquisition of Yahoo Inc. to gain illegal control over the Internet, underscoring the online search leader’s queasiness about its two biggest rivals teaming up.
The critical remarks, posted online Sunday by Google’s top lawyer, represented the Mountain View-based company’s first public reaction to Microsoft’s unsolicited bid for Yahoo since the offer was announced Friday.“Microsoft’s hostile bid for Yahoo raises troubling questions,” David Drummond, Google’s chief legal officer, wrote. “This is about more than simply a financial transaction, one company taking over another. It’s about preserving the underlying principles of the Internet: openness and innovation.”
Google’s opposition isn’t a surprise, given that Microsoft views Yahoo as a crucial weapon in its battle to gain ground on Google in the Internet’s booming search and advertising markets.
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Categories: Current Events Tags: bid, bill, billion, finance, GE, Google, internet, irs, Microsoft, offer, search, Yahoo
Friday February 1, 8:39 am ET
By Michael Liedtke, AP Business Writer
Microsoft Makes Unexpected $44.6B Offer for Internet Icon Yahoo
SAN FRANCISCO (AP) — Microsoft Corp. has pounced on slumping Internet icon Yahoo Inc. with an unsolicited takeover offer of $44.6 billion in its boldest bid yet to challenge Google Inc.’s dominance of the lucrative online search and advertising markets.
The surprise offer of $31 per share, made late Thursday and announced Friday, comes with Sunnyvale-based Yahoo in a vulnerable position.
In a statement Friday, Yahoo said it will “carefully and promptly” study Microsoft’s bid. With its profits steadily sliding, Yahoo’s stock slipped to a four-year low earlier this week and a new management team has been trying to steer a turnaround but sees more turbulence through 2008.
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Categories: Current Events Tags: bid, bill, billion, finance, GE, Google, internet, Microsoft, msft, offer, search, stock, Yahoo
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