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Time is a great teacher, but unfortunately it kills all its pupils - Hector Berlioz
Yahoo officially rebuffs Microsoft
Yahvole rejected
Monday, 11 February 2008, 15:27
YAHOO OFFICIALLY told Microsft to go take a running jump today, complaining that the software monopolists' valuation of Yahoo's business falls far short of expectations.
Yahoo's board said it believes, "Microsoft's proposal substantially undervalues Yahoo! including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments".
It said it remains "committed to pursuing initiatives that maximize value for all stockholders", and that includes playing hard to get. µ
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READ THE TITLE!!!!!
Woa...yahoo grew a pair and stuck it to da man.
Take that, inqanalyst.
So all the hype earlier by Inq was wrong and Google won again. Yay.
...Microsoft expected this? Like, are they surprised by the rejection or is it part of a larger plan? I'm not sure what that larger plan would be. (Incidentally, I would not expect the merger to work at all anyway.)