Raise Sink the Yangtanic
by John Paczkowski
Posted on November 7, 2008 at 9:15 AM PT
To this day, I believe the best thing for Microsoft to do is to buy Yahoo.”
Shares of Yahoo are slipping deep into the mud today after Microsoft CEO Steve Ballmer very publicly dismissed suggestions that the company might “revisit a possible acquisition” of the much diminished Internet portal. Yahoo (YHOO) is trading at well below $12–$11.86–as I write this, having plummeted nearly 15 percent on Ballmer’s remarks.
What an ugly, ugly day for Yahoo and its leadership. At $11.86, the company is, once again, trading at well below replacement value. And to think, Yahoo CEO Jerry Yang once claimed Microsoft’s (MSFT) $31-per-share offer for his company “massively undervalued” it.
To this day, I believe the best thing for Microsoft to do is to buy Yahoo.
Sure, you say that now Jerry …
Comments
He also claimed in Kara’s interview that he’s proud that “he accomplished most, if not all, of what he set out to do” I guess someone needs to ask him what exactly it was that he set out to do? If $31 “massively undervalued” the company, then please let Yang know that I have a whole bunch of shares that I’d love to sell him at the deep discounted price of $31 a share.
Posted by Mike Kane at November 7th, 2008 at 10:27 ammicrosoft’s offer was the last hurrah for yahoo
now it’s just drifting without a rotor
Posted by Sam Harrison at November 7th, 2008 at 1:51 pm