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Microsoft finally giving up on Yahoo

By Truman Kain ⋅ May 5, 2008 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

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This may not be strictly “Mac News,” but I think it’s important enough to see MacFocus. Back on February 1st, 2008, Microsoft announced, to the dismay of just about everybody, that they were bidding on Yahoo for $44.6 Billion. The reason behind this? It was simply an attempt to build a heavier online presence, and get one step closer to Google. Ok, let’s recap. 44.6 BILLION dollars. Yahoo. What does Yahoo have? Flickr and Yahoo Answers. That’s about it. That said, it may shock you to find out that on February 9th, Yahoo declined Microsoft’s offer, stating that the bid “massively undervalued Yahoo.” So since then, for a reason that is beyond me, Microsoft was still negotiating with Yahoo. We now know that they were asking $53 Billion and that finally, after a high bid of $47.5 Billion, Microsoft has walked away from the deal. I say both companies should learn better business sense, because Yahoo, you are NOT worth that much money, you should have just taken it, and Microsoft, what is wrong with you?
Source: MacRumors

Tags: Bid, Business, Microsoft, Yahoo