February 11, 2008
Yahoo tells Microsoft to stuff $44.6 billion where sun does not shine
Posted Feb. 11, ’08, 8:08 AM PT by Dan Moren
Category | Business
“So,” says Yahoo, “that $44.6 billion might be a lot to you, Microsoft, but we here at Yahoo say ‘pshaw!’ Come back when you’re north of $50 billion, ‘kay?”
Or so I like to imagine Yahoo’s formal response to Microsoft’s acquisition offer. The Internet portal rejected Microsoft’s deal faster than head cheerleader Vicky Harrington turned down science club president George Lemanzowski for the high school prom.
Officially, Yahoo claimed that Microsoft was undervaluing Yahoo’s stock with its proposal of $31 a share (Yahoo’s trading at $29.63 as I write this, bolstered ). Will Microsoft put in a second bid? Some are predicting that Redmond will jack up its offer by a margin of somewhere from $5-$12 billion, while Yahoo is looking for a figure of around $40/share, which would put it in the market of $56 billion.
I like to think that maybe Yahoo just doesn’t want to sell to Microsoft period, but you know what they say: a billion here, a billion there—pretty soon we’re talking about real money. It’s going to be awfully hard for Yahoo to resist these overtures if Microsoft gives them a figure in their ballpark.
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If they do end up buying Yahoo, I REALLY hope they don't screw it up! False hope, I'm sure, but Yahoo Mail actually functions like an internet mail service should, IMO. It's clean and easy. Well, the Classic version is, anyway; the newer Windows-esque style version is hideous.
They'd better not. Apple is getting along minimally enough as it is, without Yahoo, the business is going down.