Microsoft’s Dowry on the Rise?
ADOTAS – It looks like Jerry Yang’s reticence may just have bought him a bigger pay day. Microsoft is reportedly willing to raise its offer for the beleaguered Web portal from $32 to $33 a share (up from $29.06 a share). That would raise the bid from the original $44.6 billion to $46.2 billion.
Why? Because Yahoo’s shareholders, along with Yang, are making no signs of budging, despite Steve Ballmer’s threats of proxy wars, board revolutions and an increasingly pervasive atmosphere of unpleasantness between the companies, their executive and their shareholders.
The New York Times reported that Microsoft’s board met yesterday to discuss its options and they decided to raise the bid — but not enough to seal the deal. Ballmer reached out to various large Yahoo shareholders to see if they’d support the boosted bid, but word is, they’re looking for $35 to $37 a share before they’re willing to lean on Yahoo to cave.
Yang has said in the past that he’s open to all options, including a deal with Microsoft, as long as the price is right. In the meantime, Yahoo is exploring other deals with AOL and continues to pursue an ad partnership with Google.
Worker bees at Microsoft are reportedly less than thrilled about a future Microhoo, especially since rumors have been all over the net this week that Microsoft is planning to hold onto Yahoo employees post-merger – for a hefty price tag of $1.5 billion. (Yahoo has 14,000 employees while Microsoft has about 79,000).
Money talks, but that doesn’t mean employees won’t walk. Some industry watchers are hearing that Yahooers are prepping their resumes and getting ready to bolt for the door the second a deal comes down.
Yahoo’s stock was trading at about $27.64 today, up about .84% while Microsoft was trading at about $28.92, up 1.4%.
Reader Comments.
Expect many resignations at Yahoo in the coming weeks.
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