UnderTecher

Microsofts Big Bid Buy-Out Has No Effect On Yahoo

March 6th, 2008 | by Undertecher |  Email This Post

Microsoft has recently offered Yahoo a big bid buy-out. Early Monday morning, Microsoft’s Chief Financial Officer Chris Liddell told attendees at Morgan Stanley’s Technology Conference that  Yahoo doesn’t want to budge, but wants to keep a close friendly relationship with Mincrosoft. “Microsoft’s management will choose how to respond to this in the next few days and update the board on how to proceed,” said a source familiar with the talks, noting that the software giant’s stance to date has been a desire to do a friendly transaction. Microsoft really wants to buy Yahoo.

And while Yahoo is taking a calculated risk in extending the deadline without being in formal talks with Microsoft, it’s a “smart move” on Yahoo’s part, said Stephen Jenkins, a director with Delaware law firm Ashby & Geddes, which has represented a number of clients in proxy fights.

“Although Microsoft needs to get its nominees together and will have 10-days notice to get its nominations into Yahoo, that buys Yahoo more time without the pressure of Microsoft’s nominees being made public,” Jenkins said. “(This) potentially signals to Microsoft that it is open to private discussions.” Microsoft keep preasuring Yahoo to hurry and give a final answer, and Yahoo seems to be softening up. Only time will tell if Yahoo finally decides to let go.

The whole Story is here

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