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Do I Hear $32 Per Share? Sold to the Software Giant in Row 3!

by John Paczkowski
Posted on April 9, 2008 at 12:26 AM PT

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Much as Yahoo’s (YHOO) second largest shareholder, investment firm Legg Mason, may view Microsoft’s (MSFT) threatening letter as a boorish tactical blunder, the company seems willing to back its proposed takeover of Yahoo at the right price.

“If Microsoft raises the offer, the pressure shifts very quickly to Yahoo to negotiate,” Legg Mason portfolio manager Bill Miller told The Wall Street Journal. “To me, bumping the number up a buck [from $31 a share], that would have a big impact psychologically on shareholders. … If Microsoft lowers the price, I’m not prepared to say that’s better than Yahoo remaining independent.”

But you are if Microsoft “bumps it up” to $32, right?

Print Post to Twitter Comment | Kara has a related opinion Tagged: Digital Daily, John Paczkowski, Microsoft, Yahoo, , , , , , | permalink

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Another View

Kara Swisher

Finally, the rumble has moved from letters to numbers, as a major Yahoo shareholder, legendary portfolio manager Bill Miller of Legg Mason, has publicly backed the Internet giant in its takeover tussle with Microsoft. And exactly what does Miller--whose fund only holds Yahoo shares and not those of Microsoft too, as do many big shareholders of Yahoo--want?

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About John

John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper.

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Ethics Statement

Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.

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