As expected, Yahoo! rejected Microsoft's $44.6 billion acquisition offer (that's $31 per share) saying it severely undervalued the company even though the offer was a 61% premium over Yahoo!'s (NASDAQ: YHOO) stock price last week. Microsoft (NASDAQ: MSFT) released a statement that called the rejection "unfortunate" and the company vowed to "consummate a transaction" with Yahoo! 
After I finished laughing at Microsoft's choice of words (who says "consummate a transaction"?), I stopped to think about what might happen next for Yahoo! Analysts are predicting Microsoft will bump its offer up to the mid-$30s per share, but they don't think Yahoo! has many other options other than accepting Microsoft's offer. It seems there is no one else out there who can or would want to beat Microsoft's offer. However, there are rumors going around about a potential tie-up between Yahoo! and AOL to stop Microsoft.
I'm one of those people who just wants something to happen so Google (NASDAQ: GOOG) has some more competition and gets off their omnipotent pedastal. What do you think about Yahoo! and Microsoft? What would you like to see happen?
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Tracked on: February 22, 2008 5:53 PM | Permalink to Trackback