Ugly news. The end of Sun Microsystems as an independent company after 27 years is to be prefaced with a bloodletting. And a big one too. The company is sacking some 3,000 employees as it awaits the closing of Oracle’s planned $7.4 billion takeover.
EMC has long claimed that its bid for Data Domain is clearly superior to NetApp’s, and today NetApp finally agreed. After market close Wednesday afternoon, NetApp said it has terminated its merger agreement with Data Domain, giving the data storage technology vendor leave to accept EMC’s unsolicited takeover bid–at $33.50 a share cash, an 11 percent premium over its own.
As predictable as the call and response between two chattering squirrel monkeys, the recent dialogue between Yahoo and Carl Icahn. And about as elevated.
Looks like billionaire investor Carl Icahn will only need 9 of the 10 dissident directors he’d hoped to appoint to Yahoo’s board. Longtime Yahoo director, Edward Kozel resigned today, reducing the company’s board from 10 members to 9.
Good thing so rarely a correlation exists between a company’s public announcements and its corporate actions. Otherwise, it might be tough to parse Microsoft’s recent comments about future acquisitions in light of some rumors floating around Silicon Valley today.
The market is finally having its say about the collapse of the Microsoft-Yahoo deal and its words are far from kind. Shares of Yahoo plunged some 21% in premarket trading this morning after Microsoft abandoned its takeover bid, wiping out about $8.7 billion of the company’s market value. Yahoo’s current pre-market price is about 30% below Microsoft’s final offer of $33 a share, which the company deemed inadequate.
“We know what Yahoo’s worth,” Microsoft CEO Steve Ballmer said last week. “$44 billion is a lot of money.”
But it’s not as much as $46 billion, which may be what Microsoft (MSFT) feels Yahoo (YHOO) is worth today. “People familiar with the matter,” who are no doubt collecting a Microsoft paycheck, tell The Wall Street [...]
Yahoo’s exploratory advertising deal with Google has given it an alternative to Microsoft’s unsolicited takeover bid after all–the possibility of a federal antitrust investigation. The Justice Department is reportedly examining the companies’ dalliance amid concerns that it violates antitrust laws.
Which isn’t surprising at all, really. Together, Yahoo (YHOO) and Google (GOOG) control more than 80% [...]
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.
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.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
Stephen Fry and zoologist Mark Carwardine meet the kakapo — a fat, flightless and very randy rare parrot.
Spectacular in the bellowing Russian sailor sense of the word …
“If you spell something wrong on your insurance claim, do you really deserve surgery? I don’t think so …”
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