Yahoo leaves door open for other offers
updated 11:45 pm EDT, Mon May 5, 2008
Yahoo open to offers
With Microsoft retracting its bid Saturday, Yahoo CEO Jerry Yang today announced it would listen to any interested bidding parties, including Microsoft, despite explicitly saying the company is for sale.Bloomberg reports that Yahoo is currently evaluating revenue-generating relationships with companies such as Google and AOL to raise the company's value, but is leaving the door open "should somebody else come back someday and want to buy the company", said Yang.
Yahoo's advertising system is of great value to the company, which claims more traffic than any other US-based website. Investing in Google's advertising services, and exploring opportunities with AOL, have put the company in "much better shape" than even three months ago.
Microsoft's offer was snubbed at $33 per share, with Yang, Yahoo's executive board, and major investors saying the company is worth at least $37 per share, noting its vast advertising networks and enterprising technologies.
Fresh-Faced Recruit
Joined: Sep 2001
yeah, whatever
I thought Yahoo wante dto stay independent, ultimately.
So Yang is saying, 'hey we won't mind being bought out, just at a higher price'???
My hunch is he is saying this to mollify pissed-off shareholders, who have little to no hope of seeing any gains on their investment anytime soon.
Here's what I think happens: Yahoo slowly drifts down into the teens and someone snaps them up, at best at the $33/share Ballmer was last offering, at worst for less than that.