Microsoft Growls After Being Rejected By Yahoo Twice
Yahoo's board rejected once more Microsoft's proposal to acquire the Internet giant. The Redmond company had to get back at Yahoo in the public statements game.
April 10, 2008
"Any definitive agreement between Yahoo and Google would consolidate over 90 per cent of the search advertising market in Google's hands. This would make the market far less competitive, in sharp contrast to our own proposal to acquire Yahoo. We will assess closely all of our options."
“Our proposal remains the only alternative put forward that offers Yahoo shareholders full and fair value for their shares, gives every shareholder a vote on the future of the company, and enhances choice for content creators, advertisers, and consumers."
It goes without saying that Microsoft will also pursue its earlier threats to try and convince Yahoo stockholders to elect a new board of directors, more favorable to the Redmond cause.
Up till now Google managed to beat Microsoft in every business match. Will this rule apply in Yahoo's case as well?
The quarrel between the two parties dates from late January, when Microsoft offered $44 billion for Yahoo. The latter's board rejected the offer and stated that it was far less than the company was really worth.