Investing
Microsoft (MSFT), Icahn Make Firm Offer: Yahoo! (YHOO) Rejects
Published:
Friday evening Microsoft (MSFT) and Carl Icahn made an offer to the Yahoo! (YHOO) board. Microsoft would buy Yahoo!’s search business. Icahn would take over the rest of the company. The portal company’s board would have to leave immediately.
The offer had a one day time limit.
According to Reuters, The company said the "take it or leave it" deal that was offered would also preclude a potential sale of all of Yahoo "for a full and fair price, including a control premium."
Yahoo! was right to walk away.
Microsoft’s (MSFT) position in search is getting worse by the month. Yahoo!, while still well behind Google (GOOG) in the category, has a significant strategic value to Redmond, one it cannot get anywhere else.
Microsoft offered Yahoo! $33 a share for the company once. If the Yahoo! board can win its proxy fight against Icahn, Microsoft will be back with a higher offer.
Douglas A. McIntyre
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
