Yahoo Board Rejects Microsoft Offer - Washington Post
This could be a prolonged battle as the Microsoft offer was unsolicited. The Washington Post article quoted "sources close to the discussions" so no official statement yet. here are some highlights from the Washington Post article. The Wall Street Journal website reported this online yesterday.
Microsoft's response could be:
- Circumvent the board by appealing directly to the shareholders
- Apply for board positions on Yahoo's board( all 10 positions are up for re-election)
- Increase its offer per share
Meanwhile the Post article and several other news web sites are speculating on Yahoo's strategy:
- Yahoo outsources its search-ads function to Google
Google must be happy at least for now. The Yahoo Internet properties have the largest online audience 137 million monthly visitors.
What does this mean for you and me. Life as usual for now and we may be a month away from any new developments here. Let me caveat that by saying I have been proved wrong many times.