Breaking News: Microsoft (MSFT) Withdraws Offer To Acquire Yahoo (YHOO)…My Take
Posted by timothysykes on Sat 3rd of May, 2008 08:29:37 PM
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I tried very hard not to cover this breaking news of Microsoft withdrawing their offer to acquire Yahoo! as I believe it to be utterly useless for trading purposes, especially since we all know there’s gonna be 5,000 articles in the next 24 hours written about it, but the official press release contains some pretty funny stuff towards the end–at least for corporate speak–so it’d be rude of me not to share:
I still believe even today that our offer remains the only alternative put forward that provides your stockholders full and fair value for their shares. By failing to reach an agreement with us, you and your stockholders have left significant value on the table.
But clearly a deal is not to be.
Thank you again for the time we have spent together discussing this.
Sincerely yours,
/s/ Steven A. Ballmer
Yah, that’s just the end of the PR, but the rest of it basically just says you YHOO pricks shoulda taken our money and not been so greedy cuz now we’re gonna clobber you, just like we’ve been doing for a while, not because we’re that good or smart but cuz you guys suck worse. Seriously, that’s what it says. Ballmer admits it. Read it yourself.
UPDATE: This is getitng funnier by the hour…Yahoo! responds in THIS PR saying bah blah blah…here’s the funny part of CEO Yang trying to get back at Ballmer’s putdown:
Jerry Yang, co-founder and chief executive officer, Yahoo! Inc. added, “I am incredibly proud of the way our team has come together over the last three months. This process has underscored our unique and valuable strategic position. With the distraction of Microsoft’s unsolicited proposal now behind us, we will be able to focus all of our energies on executing the most important transition in our history so that we can maximize our potential to the benefit of our shareholders, employees, partners and users.”
It’s like two old former soap stars bickering cuz now they’re both too ugly for daytime TV. Yang, you better STFU cuz you about to get sued by all your shareholders you arrogant @$!hole
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Total: $65,674 (421%)
YHOO shareholders are screwed. MSFT will end up buying them a year from now for $7.50.
YOU ARE WEEK !!!!
You couldn’t help yourself but write this blog.
Beware Tim……..
In your next life you are going to be a Financial Journalist…… WITH A BOW TIE AND A VEST !!!
BUAHAHAHAHAHAAHAHAH !!!!!!
Let the lawsuits against Yahoo! begin… Couldn’t agree with Tony more. Best thing Microsoft has done in a while.
Tim, I know it is not your game. But before yhoo got the offer and was trading on its low twenties - upper teens. This price included the “hope” of eventually getting acquired.
How about if yhoo trades on its low 20s on Monday, do you think it can keep drowning slowly from there.
Know its not your game and maybe you’ll send me to the casino to get some drinks…….
Actually I used to go to the casino and sticked to play the basic strategy at Black Jack, which leaves you at even odds with the table and used to get free drinks…….. this was back home, here in Vancouver I actually have to pay for drinks….. unbelievable……. I am so going back home…… after making some money with penny stocks and your dvd that is (I ordered Monday night from Vancouver, can’t wait to go over it.
Congrats on the new site, looks great, where did you learn your technical analysis?
I am studying Technical Analysis of Stock trends, any other suggestion?
thanks getshorty u’ll see in my dvd and book i’m all self-taught, all trial and error baby, thats why i like to keep it simple.
this is just headline stuff for the news and media feeding frenzy. how many more times are we going to hear this same story? Tim - your right about the comments being made by yahoo’s chairman, roy bostock - he sounds like every other chairman out there…”everythings fine!”, we’re very pleased…blahh, blaaaahhh,,,blllaaaaaa. BS.
That’s all the mroe reason not to believe ANYTHING these guys say. They only care about their own interests and bottom line is the money they’re making and not the money you’re making.
Hi Tim, do you think it is a good idea to short yahoo tomorrow?
no i dont touch merger plays, too many richer/better informed players than me involved, too defendant on unpredictable news and arbs, i just stick to shorting pup and dumps–check out the yahoo response i’m about to post, this is like a soap opera although yang and ballmer are too ugly for daytime tv
And MSFT stock will be up 5% to 10% on Monday. That deal seriously would’ve destroyed MSFT shareholder value. At least they didn’t raise their offer. Yang and the Yahoo board are fools.
Hey tim, I just wrote an article on this. Take a look.
http://thefreshprinceofinvesti.....y-tommrow/
Let me know what you think! and random other people check it out too, i just started this blog, and i may be giving away a tv appearance to the top commentors in a few months.
Is this what they call “saber-rattling”? Yahoo is being greedy and MSFT has taken their ball and gone home.What is to be expected on Monday? Will YHOO stock take a nose dive to the high teens, or will it continue to hold its own even without MSFT bid?
An ounce of prevention is worth a pound of cure!
yarrggg, Tim I can’t post in the Forums, what’s the deaaaal. it keeps telling me to log in even though I am already logged in. I want some TIMbuckssss.
Hey Ben - we’re working on resolving this forums/timbucks issue - will be fixed by the morning.
If they were going to do the deal it would have been complete by now. Tony is right, a year or 2 yahoo will be down and Microsoft or AOL will buy them.
Ok on to making money, what’s up for the week? Or should I say going to be down?
yhoo really fucked up. it would be hillarious for msft to just keep buying shares in the open market and get them for low to mid twenties. I feel sorry for YHOO longs. Yang screwed them.
yahoo got way too greedy
Thanks for finally writing about msft-yhoo-gate. It’s nice to hear all the perspectives on this craziness.
I know Tim already mentioned not to play with YHOO but just wondering if it opens at high, probably it is still safe to short for a quick $1-$2 return as a lots of sellers want to get out of this mess. However, most likely it will be already much lower even at pre-market. Just a thought!
$15.25
YHOO greed, sucks for shareholders!
[img]http://vnmedia.ign.com/warhammervault.ign.com/images/Misc/greed.jpg[/img]
still good company but nothin happinin if goog gets yahoo