Microhoo: Back From the Dead?
ADOTAS – Yahoo’s rejection of Microsoft’s $31 a share acquisition offer is looking mighty silly now as it hovers around $12.30 a share as of 12:08 p.m. Whoopsie! But Yahoo isn’t the only tech stock that’s plummeting, of course.
Google was down to $323.86 today (from $580 earlier in the year) and Microsoft hovers around $21 a share.
At least one Yahoo shareholder, Mithras Capital, is hoping to resuscitate the Yahoo/Micro merger (and cash in on lost capital), proposing that Microsoft buys Yahoo for $22 per share. Mithras owns about 1.9 million shares, or 0.14% of Yahoo.
Reader Comments.
This is truly hilarious. Yahoo shouldve taken the deal long before this current financial collapse. But now, I don’t think Yahoo is worth more than $18 a share. Why would Microsoft be willing to pay $22 a share for YHOO when YHOO is so weak? I also don’t think with this environment, the DOJ is going to look kindly on Google and Yahoo’s little deal. I think Yahoo is done. It’ll languish and maybe stay afloat. But it really doesn’t have any initiative that will make it any better. Nor does Microsoft. Neither seem very innovative with search.
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Layoff Tracker
- AOL - 700
- Apple - 50
- Clear Channel - 2,800 total (1,000 currently)
- Google - 340
- IBM - more than 7,800
- Joost - about 90
- MySpace - in June, about 720
- World Avenue - 30 percent of workforce
- Yahoo - 2,220 total, about 700 currently
- Zango - closes, about 90, in addition to earlier layoffs
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