Via the Wall Street Journal:
Yahoo Board to Reject Microsoft Bid
Yahoo Inc.’s board plans to reject Microsoft Corp.’s unsolicited $44.6 billion offer to acquire the Web giant, a person familiar with the situation says.After a series of meetings over the past week, Yahoo’s board determined that the $31 per share offer “massively undervalues” Yahoo, the person said. It also doesn’t account for the risks Yahoo would be taking by entering into an agreement that might be overturned by regulators. The board plans to send a letter to Microsoft on Monday, spelling out its position.
Yahoo has taken “poison pill” provisions to prevent an unwanted takeover. Microsoft would likely have to oust the board in order to overturn them.
Will Microsoft and Steven Ballmer attempt a takeover?
Does this mean the end to the Search Wars… I don’t think so, but we will see!
This would equate to the second failed attempt in as many years!
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{ 2 comments… read them below or add one }
If this is true, I will be one of the happiest people on this planet.I hate this buying business.If MS want something Yahooish, they should develop it from a scratch using their Billions.
Clement,
Thanks for the comment. I know from an SEO standpoint, the idea that having two organic results to contend with is inviting, however, I think that having a more substantial competitor for Google would be a good thing for users and the industry.
Microsoft has always used their financial power to buy what they need, rather than develop it themselves. They have done this with search and online ads, but Google has more momentum then both Y! and MSN, so it would make business sense to combine to conquer. I am still extremely interested to see Microsoft’s next move!