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BizReport : Internet : February 10, 2008
Yahoo tells Microsoft $44.6 billion not enough
Reports are circulating of a letter from Yahoo, to be made public on Monday, rejecting Microsoft’s buy-out bid of $31 a share. Why? It would appear they're hanging out for more money.
Yahoo isn’t happy with the $44.6 billion buy-out bid offered by Microsoft, according to reports currently circulating, including on Bloomberg and the New York Times.
Unhappy with the $31 a share offer, Yahoo appears to be holding out for around $40 a share, despite recent financial struggles. This would mean an increase in Microsoft’s bid of around $12 billion.
“A lot of this is gamesmanship on the part of Yahoo,'' said Scott Kessler, an equity analyst at Standard & Poor's in New York, via Bloomberg.
“Microsoft is well aware that Yahoo doesn't have any other options. What this is about is how much Microsoft wants Yahoo and how much time they're willing to wait to get this deal done.''
Some industry analysts believe Yahoo could explore new business strategies including, they speculate, outsourcing its search-ad functions to Google.
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