Tech Check
More Videos
MOST SHARED
- Zero China Growth Is ‘Probable’: Gordon Chang
- Marc Faber: 100% Chance of Global Recession
- Citigroup Lost $20 Million on Facebook IPO Trades
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Senate Summons Dimon to 'Get to the Bottom' of JPM Mess
- Romney Leads Poll Of Small Business Owners
- What College Tuition Will Look Like in 18 Years
- China Growth Risks Signal Need for Fiscal Action
- Bacon Tourism: From the Davos of Bacon to Bacon Mecca
- A New Look at the ‘New Poor’
- Six Pack: Beer Buzz of the Week
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Under Pressure, FHA Skews to Wealthier Home Buyers
- Big Stock Upside for Hudson City Deal: Analyst
- 5 High-Yield Stocks Ready to Boost Dividends
- Yoshikami: Four Things You Need to Know About Gold Now
- Steinbock: The Euro Zone Endgame Begins
- Option Bulls Take Another Shot on Idenix
- Citigroup Lost $20 Million on Facebook IPO Trades
- JPMorgan to Shake Up Risk Team After Big Loss: Report
- Spain to Inject Emergency 19 Billion Euros into Bankia
- EU Set to Launch Action Against China Over Telecom Aid
- JPMorgan to Shake Up Risk Team After Big Loss: Report
- Marc Faber: Chance of Global Recession Is Now 100%
- Week Ahead: Europe Has Wall Street Bull on Short Leash
- Cool Jobs: From Gold Stacker to Bed Tester
- Sticker Shock: What College Is Likely to Cost in 18 Years
RSS FEED
Yahoo's Response to Icahn
Text Size 
Silicon Valley Bureau Chief
 |
Shiho Fukada / AP |
Yahoo's letter seems very "boiler plate" to me. It rehashes many of the same arguments the company has already put forth, both publicly and privately:
- That Microsoft's raised offer of $33 was never put in writing with no additional, appropriate details.
- That it was Microsoft, not Yahoo, that was stonewalling, and not negotiating effectively or appropriately.
- That Yahoo's board meticulously combed through every available detail as it tried to evaluate Microsoft's offer, to no avail.
- That Yahoo's board was fervently acting in the best interests of shareholders by turning down an offer, even though that offer carried a 72 percent premium.
Yahoo [YHOO
Loading...
()
] says it is still very open to a deal with Microsoft [MSFT
Loading...
()
], or anyone else, so long as the deal fairly values the company. If there is a surprise, it's that Yahoo confirms that there is no other deal available, no other suitor, either then or now, waiting to strike a deal for the company.
 |
CNBC.com |
Some might say Yahoo is in the "right" for simply not jumping at the first -- and only -- offer on the table. Icahn and friends might say that when the offer carries a 72 percent premium, Yahoo should not only have jumped, but with no other alternative, should have asked how high.
Yahoo is making the case that it's board is acting in the best interests of shareholders. With few analysts buying into the company's rosy financial outlook and projections, that's a tough argument to make when an offer like Microsoft's is deemed good, but not good enough. Looks like Yahoo's digging in for the fight.
Anyhow, just my two cents.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes
