Gentlemen, start your litigators!
May. 3rd, 2008 05:43 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
libertangoFrom the original article in the New York Times on Microsoft's offer for Yahoo:
"The offer of $31 a share represents a 62 percent premium over Yahoo’s closing stock price of $19.18 on Thursday, a far cry from its peak of $118.75 right before the dot-com bubble crash."
Microsoft has since increased its offer to $33/share, a premium of 72% on the original share price at Yahoo.
Yahoo's board has always maintained that MSFT's offer was "undervalued," and repeatedly refused it. In what universe they thought making $1.72 on every $1.00 invested was "undervalued" was never explained.
Today, Microsoft has withdrawn its bid. Rightly so, in my opinion.
The next act: Watching Yahoo's board have their pants justifiably sued off by shareholders who'll never see so good an offer again. This may be the stupidest bunch of managers since Coke's "reformulation." (Or any member company of the RIAA.)
"The offer of $31 a share represents a 62 percent premium over Yahoo’s closing stock price of $19.18 on Thursday, a far cry from its peak of $118.75 right before the dot-com bubble crash."
Microsoft has since increased its offer to $33/share, a premium of 72% on the original share price at Yahoo.
Yahoo's board has always maintained that MSFT's offer was "undervalued," and repeatedly refused it. In what universe they thought making $1.72 on every $1.00 invested was "undervalued" was never explained.
Today, Microsoft has withdrawn its bid. Rightly so, in my opinion.
The next act: Watching Yahoo's board have their pants justifiably sued off by shareholders who'll never see so good an offer again. This may be the stupidest bunch of managers since Coke's "reformulation." (Or any member company of the RIAA.)
