Yahoo! shares tumble as Ballmer shuts coffin on Microhoo This week, Yahoo! chief Jerry Yang said "the best thing for Microsoft is to buy Yahoo!" But Steve Ballmer doesn't see it that way. Chatting at a business lunch in Sydney today, The AP reports, Ballmer reiterated that Microhoo is well and truly dead. "We made an offer, we made another offer, and it was clear that Yahoo didn't …
MS was dumb for wanting to buy Yahoo! for 40 BILLION dollars instead of building their own search engine--seriously, $40 BILLION couldn't build one world-class search engine?
And now Yahoo! is dumb for even suggesting that a deal would have been a good idea... Dumb, dumb, and desperately dumb.
Both those companies should fall to dust--and I say this as someone who actually maintains three Yahoo! mail accounts.
Paris, because for $40 billion _she_ could build a better search engine...
Sorry I was an ungrateful ingrate who couldn't tell that Yahoo was becoming an also-ran search provider. I should also apologize to my shareholders for turning down a $33 per share offer and taking them down to $12.
Pretty please can you make another offer? It doesn't have to be $33, I'd probably settle for $15.
Lots of love
Jerry
Yahoo! has been a second-rate search engine for many years anyway. MS should launch their own services instead of trying to buy Yahoo, which would devalue Yahoo yet further, to the point at which they'd probably be trying to give the company away.
The only people I feel sorry for are the shareholders of Yahoo, who can only stand to lose out, as I cannot see any way realistically that their shares will ever be valued at $33 again.
maybe not steve but his corporate team will have adviced it for 2 reasons
one. Alot of they investors were venture capatalists looking to make a buck and it looked like microsoft had offered them a way to make that buck plus some extra. this was bound to make the board nervous of split the broad some in favor some not. especially after yahoo had brought some profitless start-ups recently that had no benifit
Two. if they except you get they webmail users search users and advertising revenue can trim out the fat and become a google rival in the Advertising field or argueing amoung broad members causes the share price to drop makeing them cheaper for a second attempt to buy or causing them to go broke and you gain a market spot that way.
failed purchase attempts nearly always cause the company being brought to have a share price drop a sad fact of life.
and with the bad moves yahoo have made it's not surprise they would now be looking to sell themselfs
Yahoo's small shareholders should file a class-action suit on Yang and the whole yahoo board for rejecting microsofts early bid. I can't believe the shares are down to a 1/3 of their previous value.
If you ask me thought the true value of Yahoo is probably nearer $5 a share. How do they plan on providing growth to their shareholders?
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