Yahoo bad management made Google the front runner in business online marketing
2008-02-02 17:11:53 (GMT) (Caymanmama.com - Business News)San Francisco
Microsoft (MSFT) has offered a take over bid to Yahoo (YHOO) to help it out of the misery but Yahoo is still pondering on the offer. Microsoft on Friday said that it offered to buy the suffering Net giant Yahoo for $31 a share or $44.6 billion is stock and cash.
Deal will offer Yahoo shareholders a 62% premium according to the Thursday’s closing price and will combine to popular Internet companies to counter the competition from Google (GOOG). The deal is a sore reminder for Yahoo about the missed opportunities and bad management which made Google the front runner in business online marketing.
“We have great respect for Yahoo”, said Microsoft Chief Steve Ballmer. “And together we can offer an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market” he further said.
“In late 2006 and early 2007, we jointly explored a broad range of ways in which our two companies might work together”, Microsoft says. “These discussions were based on a vision that the online businesses of Microsoft and Yahoo! Should be aligned in some way to create a more effective competitor in the online marketplace” it further added.
Microsoft’s approached Yahoo a year ago but Yahoo’s board told that “now is not the right time from the perspective of our shareholders to enter into discussions regarding an acquisition transaction”. But with the fall in Yahoo stock and the recession happening this year, if this is not the right time, we wonder when it would be then.
CaymanMama.com - Press Release Distribution Service
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