Hi everyone. I take it everyone had a wonderful weekend. It wasn't too hot or too cool. The weather was beautiful. I had a great time shopping. Now it's back to the books.
Why did Yahoo turn Microsoft down?
Yahoo rejected Microsoft's bid today. Yahoo claims the bid was too low. The board felt like the bid wasn't the best thing for its stockholders. Microsoft believes a combination of the companies would lead to cost savings of a billion dollars per year.
Do you think this is a way for Yahoo to get Microsoft to raise their bid? Yahoo probably won't find another company to bid as much as Microsoft bid. On the other hand Microsoft won't be able to meet its Internet goals by going with another company.
Many people think the deal will go through, they are just going through a process right now. Yahoo wants to see if Microsoft will raise the price. The situation is very difficult for both companies. If Yahoo doesn't take the deal at the price, Microsoft might walk away. Then Yahoo, doesn't want to miss out on the offer if they don't have a back up plan.
www.afp.google.com/article
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