Looking forward to August 1
by Claudia Sonea
The whole matter Yahoo and Microsoft is getting tired and uninteresting. There have been so many rumors and so many debates on the entire issue that no one seems to have the patience to read or hear news about it. However it is inevitable and the only hope we all have is that after the general stock holders meeting it will all be over.
Most of you know that since 2005 Microsoft pursued Yahoo for a takeover. The last takeover bid took place in February (US$44.6 billion dollars in cash and stock). The offer was more than satisfying according both to analysts, but also Yahoo’s shareholders and employees. Nonetheless, Jerry Yang, Microsoft’s CEO and co-founder, together with Yahoo’s board of executives turned down the offer and said that it is in the benefit of the company and its employees. Steve Ballmer, Microsoft’s CEO, refused to give up and approached the board of directors giving them three weeks notice that if they won’t accept the deal, Microsoft will be forced to talk directly to the shareholders and ask them to elect a new board of directors if they want a merge. On May 3, 2008 Microsoft withdrew the offer.
It is clear that Yahoo needs a saving boat and the multi-millionaire Carl Icahn, one of Yahoo’s shareholder, thinks that the best solution is a merge with Microsoft, so he sued Yahoo’s board of directors for snubbing the generous offer without taken in account financial interest, but rather personal ego. As the shareholders meeting is more than a week away, there have already started the news about it. So, according to the last rumors the board of executives sent a letter to shareholders in which they criticized harshly the attitude of Carl Icahn who is being lead only by his desire to sell Yahoo either parts of it or the whole in order to recover his investment. Moreover, Icahn has no experience in technology companies and thus he is not suitable to negotiate any merge of a company he does not know or fully understand.
Most of the letter is against Icahn and Microsoft. Although Icahn is a debatable matter, Microsoft on the other hand was unjustly accused of being indecisive. I think that three years of pursue is an evidence that it lingers to merge with Yahoo, while the offer was more than generous. Even the fact that after being turned down so many times and still wanting to go through with the merge reinforces the commitment of Microsoft. Only after 1 August things will be settled and finally the restless damsel in distress will have her situation clarified.
related story: http://news.yahoo.com/s/cnet/20080717/tc_cnet/8301108053999316275;_ylt=AjkS4Rtt682bZk6MnO4h.wKs0NUE
PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.<br><br><font size=2>These news are original content from young talents around the world and are selected for you by Chris Cantell.</font><br>
posted by Lucia Adamova
Most of you know that since 2005 Microsoft pursued Yahoo for a takeover. The last takeover bid took place in February (US$44.6 billion dollars in cash and stock). The offer was more than satisfying according both to analysts, but also Yahoo’s shareholders and employees. Nonetheless, Jerry Yang, Microsoft’s CEO and co-founder, together with Yahoo’s board of executives turned down the offer and said that it is in the benefit of the company and its employees. Steve Ballmer, Microsoft’s CEO, refused to give up and approached the board of directors giving them three weeks notice that if they won’t accept the deal, Microsoft will be forced to talk directly to the shareholders and ask them to elect a new board of directors if they want a merge. On May 3, 2008 Microsoft withdrew the offer.
It is clear that Yahoo needs a saving boat and the multi-millionaire Carl Icahn, one of Yahoo’s shareholder, thinks that the best solution is a merge with Microsoft, so he sued Yahoo’s board of directors for snubbing the generous offer without taken in account financial interest, but rather personal ego. As the shareholders meeting is more than a week away, there have already started the news about it. So, according to the last rumors the board of executives sent a letter to shareholders in which they criticized harshly the attitude of Carl Icahn who is being lead only by his desire to sell Yahoo either parts of it or the whole in order to recover his investment. Moreover, Icahn has no experience in technology companies and thus he is not suitable to negotiate any merge of a company he does not know or fully understand.
Most of the letter is against Icahn and Microsoft. Although Icahn is a debatable matter, Microsoft on the other hand was unjustly accused of being indecisive. I think that three years of pursue is an evidence that it lingers to merge with Yahoo, while the offer was more than generous. Even the fact that after being turned down so many times and still wanting to go through with the merge reinforces the commitment of Microsoft. Only after 1 August things will be settled and finally the restless damsel in distress will have her situation clarified.
related story: http://news.yahoo.com/s/cnet/20080717/tc_cnet/8301108053999316275;_ylt=AjkS4Rtt682bZk6MnO4h.wKs0NUE
| by Claudia Sonea for PocketNews (http://pocketnews.tv) |
PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.<br><br><font size=2>These news are original content from young talents around the world and are selected for you by Chris Cantell.</font><br>
posted by Lucia Adamova
Labels: CantellTV, Chris Cantell, Christopher Cantell, digital broadcasting, SigEx Foundry, SigEx Telecom, Technologies
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