More layoffs due at Yahoo! There are likely to be more job cuts at Yahoo! - the first since Carol Bartz took over the CEO's job in January. Official confirmation is unlikely ahead of the company's first quarter results on 21 April. A spokesman for the company refused to comment to The Register. Yahoo! cut 1,500 positions in December last year while …
Lets remember what a anonymous coward on elReg once pointed out:
$8 a share for you, $27.6 a share for Icahn
By Anonymous Coward Posted Monday 14th July 2008 18:00 GMT
http://www.forbes.com/afxnewslimited/feeds/afx/2008/07/14/afx5211642.html
1. Well firstly it's not a guarantee, since Icahn has no authority to speak for Microsoft, he can't control what offer they make him once he's burned the company.
2. The guarantee requires that Yahoo delivery the hits and page views to Microsoft search. But people don't use Microsoft search so this is worthless, if Microsoft fail to get the users, then they get let out of the 'guarantee'.
3. $2.3 revenue for 5 years is $8.33 a share (assuming they mean 2.3 a year for 5 years and not 480 million *5).
4. $1 billion for Yahoo's cherry, it's search, that's $0.72 a share.
5. $2.8 billion loan, presumably with interest, so a payment from Yahoo to Microsoft of about $1 a share in interest back to Microsoft.
6. " Under the deal, according to Icahn, Yahoo shareholders would receive $16.25 per share in distributions.", I don't see where he gets that from I make it about $8 a share. $8.33 + 0.72 - 1
7. "Microsoft would also be making a substantial equity investment in the remaining company at $19.50 per share, he stated." Presumably they promised to buy Icahn share's back at $19.5.
Yes? So he gets his out at about $27.6 or more and they get a worthless company and $8 a share or more. Microsoft gets their search, at no risk, if they fail to perform their guarantee is nullified. And if Yahoo shareholders voted for this, Microsoft could make an offer far below this.
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So it's worth remembering how we got into a situation where Yahoo has Icahns boys on it's board and a damaged company, while Google continues to ride out the bad economy.
Even so, YHOO are still $14 a share, well above $8 a share.
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