Yahoo shareholders revolet
Magnificent seven
SEVEN shareholders have decided to sue Yahoo for bungling the takeover bid by Microsoft.
Yahoo's board claimed that Microsoft's offer, originally valued at $44.6 billion, is insufficient.
However five shareholders have decided to take Yahoo to court because Yahoo tried to stonewall the deal without trying to negotiate something better.
Another two claim that Yahoo unfairly favoured Microsoft's "inadequate" bid even though the board eventually turned down the original cash-and-stock offer of $31 per share.
But because Yahoo mucked around' Microsoft's stock price has declined by 13 per cent and the bid was worth only $28.94 a share.
On top of this, Microsoft has been also talking about engineering a shareholder revolt in favour of the deal. µ
L'Inq
Sydney
Morning Herald
Comments
"revolet"?
Revolt. :)AST adds: Re Vole t. It's a pune or play on words.
Principle
Obviously Yahoo's board is not acting according to common sense.Other than pride, or an antique sense of right and wrong what king of possible sound business thinking is involved here?
In one simple foolish act they have cost shareholders alot of money. Why are they so reluctant to get a good deal & get paid enough to make a baseball park in their bathroom??
Please do tell, how much more is yahoo worth over the original offer? 10%?
Besides the 13% drop, Yahoo is declining, and has been for some time.
Dear Yahoo, wake up.
oh..
.. that's a convenient explanation. :) Perhaps some inter-capping to make it look less like a spelling blunder?Who?
Who do those Yahoos think they are?Negotiate ,maybe.
Deals that are based on stock transfers are always of unknown value until the day the deal closes.Until then it is all just quantities.This is the dance of Love between two busineeses and when the bid is unsolicited ,therefore hostile,negotiations can be protratracted.
After all who wants to form a partnership with a terminally infected mate ?