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greggh
- Posts: 1036
- Joined: Fri Jun 02, 2006 7:17 pm
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by greggh » Sat May 03, 2008 4:01 am
http://www.nytimes.com/2008/05/03/techn ... ref=slogin
After a three-month standoff, Microsoft was in active merger talks with Yahoo on Friday, several people involved in the discussions said.
Microsoft, which had threatened to abandon its bid or initiate an attempt to oust Yahoo’s board, has increased its offer “by several dollars,” one of the people said.
The higher bid came as Yahoo’s board was holding a two-day meeting. Exact terms being discussed could not be learned, but according to the people involved in the talks, Microsoft suggested it was willing to pay more than $33 a share. Yahoo is still holding out for at least $37 a share, these people said. These people were not authorized to speak publicly because the negotiations were confidential.
“Unless there is a friendly deal, I don’t think there is any question that Yahoo will probably pursue an extended relationship with Google,” said Scott Kessler, an equity analyst with Standard & Poor’s.
As distasteful as a combined Microhoo! would be, Yahoo continuing to cozy up with Google would be a far worse outcome for competition on the web.
