Yahoo CEO Jerry Yang does 180, basically slaps Microsoft in the face
It’s decided – Yahoo CEO Jerry Yang is schizophrenic.
To this day, I have to say that the best thing for Microsoft to do is to buy Yahoo. I don’t think that is a bad idea at all – at the right price, whatever the price is, we are willing to sell the company. We were ready to negotiate, we wanted to negotiate a deal, and we felt that we weren’t that far apart. But at the end of the day, they withdrew and they since have been very clear about not wanting to buy the company.
Dude, Jerry, Buddy. What’s going on over there? Microsoft had expressed more than a fleeting interest earlier this year when it offered struggling internet giant Yahoo a cool $44.6 billion, a 65% premium over the stock price at that time, in a proposed acquisition. At that time, Yahoo did everything it could to squash the deal short of literally driving to Washington and setting fire to Bill Gates’ cat. Now that hindsight is 20/20 and that $44.6 billion is looking pretty damn good, Yang starts pulling these shenanigans in telling the world that he is, and was, all for an acquisition. If Carl Icahn can survive reading this news without having a stroke or hiring a hitman, it’ll be a small miracle.
[Via Mashable]
Yahoo! blew it.
At this point, if I was Microsoft (or anyone else for that matter), I’d let them rot.
Microsoft is just going to let them go bankrupt, then swoop in and buy Yahoo for the cheap. They should have took the first offer and ran with it.
Agree with 1adonis1… Yahoo has no leverage now. They don’t necessarily have to go bankrupt, though. Just the knowledge that they can’t survive is going to get Microsoft to push a low bid. Or maybe they’ll just wait for the incompetent Yang to come crawling to Ballmer.
I know a lot of people hate it, but it’s really the only applicable thing to say here. On three:
one…
two…
three…
LOLWUT?!
Yang sounds like a douchebag AND an a-hole! Good luck dumbass. Yahoo! will crash and burn!
oh well! Shoulda, coulda, woulda.
I’ve been a Yahoo fan, but man did he screw this one up. It’s one thing to try to get the most $$$ for your company/shareholders (and his own wallet), but don’t be an idiot. Now that things have become cloudy out there, Yahoo is hanging in the wind. Yang blew it.
Thats what they get for putting the tech guy back in the CEO seat…. good for innovation, bad for deal making. Trobule is, Yahoo has no stratigic innovation path anymore either.
Google needs to perform a display of power… Buy out Yahoo! and then just crush the company right in front of Microsoft’s face.
@ Sauce you’re dumb…Google just said this morning that they’re not even doing the ad partnership with Yahoo anymore, let alone wanting to buy it. They faced an antitrust suit so they backed out. That’s the only reason why Yang is saying that now because he wanted that deal and it did not happen rather than listening to Icann and not making him go through with the proxy fight. Now they have no choice but to be at the mercy of Microsoft. I hope they just let them rot. Stupid idiots. Knowing microsoft though they’ll either partner with them or buy them. A little salt in Google’s face to say we could do what you couldn’t lol. It is beneficial both ways though if you really look at it.
maybe hes just mildly retarded lol
Jerry /Wang/… What a dick. You “blew” it. I heard Bill Gates needs some floors mopped at his new entity. Don’t pass on that one.
time is on Microsoft’s side…..they will wait for a bottom and buy it at a significant discount to the $44B i wouldn’t expect anything to happen before the new year
@ Richard Ward no need for racism now.
I cant help but come back to this one and LAUGH.. hahahahahahaha
John C Dvorak made a very interesting comment back when it was known that Microsoft was making a bid to buy Yahoo. He said that MS would not really buy the company, only make it known that they want to buy them, and not follow through. I don’t recall his reasoning behind it, but he went on to say that this has happened in the past with other companies and what resulted was the buyee going out of business. Maybe Yang is telling the truth. Maybe MS knew exactly what they were doing. Or maybe thier intention was to really buy Yahoo, but it still resulted into this outcome. Who knows, but all I do know is that every time I heard anything about Yahoo with MS or Yahoo with Google, I kept remembering what Dvorak said. Man, he’s like Nostradamus!
I’m thinking MSFT still sees value in yahoo to help fight google and now they can offer a 65% premium over the current price of $13 and save themselves 20 billion dollars on their original offer.
Yang is a genius!
what a friggin dumbass. dont blame microsoft for your terrible business decision.
Jerry Yang is such a loser. I don’t think anyone even enjoys being around him.
Just reading about him is a letdown.
Jerry is the epitome of LOSER!! He is just another greedy CEO and deserves to go bankrupt.
maybe it’s because of that:
http://googleblog.blogspot.com/2008/11/ending-our-agreement-with-yahoo.html
-_-