"Microsoft Offers $44.6B for Yahoo"

http://biz.yahoo.com/ap/080201/microsoft_yahoo.html

Microsoft Makes Unexpected $44.6B Offer for Internet Icon Yahoo

SAN FRANCISCO (AP) -- Microsoft Corp. has pounced on slumping Internet 
icon Yahoo Inc. with an unsolicited takeover offer of $44.6 billion in 
its boldest bid yet to challenge Google Inc.'s dominance of the 
lucrative online search and advertising markets.
ADVERTISEMENT



The surprise offer of $31 per share, made late Thursday and announced 
Friday, comes with Sunnyvale-based Yahoo in a vulnerable position.

With its profits steadily sliding, Yahoo's stock slipped to a four-year 
low earlier this week and a new management team has been trying to steer 
a turnaround sees more turbulence through 2008.

The announcement sent Yahoo's share price up 60 percent in premarket 
trading, while Google fell 8 percent.

In a letter to Yahoo's board of directors, Microsoft Chief Executive 
Steve Ballmer said the world's biggest software maker will bid $31 per 
share, representing a 62 percent premium to Yahoo's closing stock price 
Thursday.

Since reaching a 52-week high of $34.08 in October, Yahoo shares have 
fallen 46 percent. Yahoo climbed $11.47 a share, or 59.8 percent, to 
$30.65 in premarket trading.

Ballmer revealed in the letter that Yahoo had rebuffed a previous 
overture a year ago, saying it had a turnaround in the works. But he 
pointedly noted Yahoo has instead deteriorated significantly.

"A year has gone by, and the competitive situation has not improved," 
Ballmer added.

Under terms of the proposed deal, Yahoo shareholders could choose to 
receive cash or Microsoft common shares, with the total purchase 
consisting of 50 percent each cash and stock.

Microsoft said it sees at least $1 billion cost savings generated by the 
merger, and intends to offer significant retention packages to Yahoo 
engineers, key leaders and employees. The software giant said it 
believes the takeover would receive regulatory clearance and close in 
the second half of 2008.

Ballmer said Microsoft expects Yahoo's board will review its proposal, 
but "reserves the right to pursue all necessary steps to ensure that 
Yahoo's shareholders are provided with the opportunity to realize the 
value inherent in our proposal."

Google shares fell $46.55, or 8.3 percent, to $517.95 in premarket 
trading. Microsoft shares dipped $1.39, or 4.3 percent, to $31.21.

The announcement follows Yahoo's announcement late Thursday that Terry 
Semel stepped down as chairman, severing his ties with Yahoo 7 1/2 
months after he resigned as chief executive under shareholder pressure. 
He had been criticized for failing to cash in on the Web advertising 
surge as effectively as main rival Google Inc.

Yahoo co-founder and Chief Executive Jerry Yang said this week the 
company will cut 1,000 jobs, or 7 percent of its work force, in an 
effort to cut costs.

Meanwhile, Microsoft last week forecast a rosy 2008 -- despite broader 
economic worries -- after it blew by Wall Street's expectations for a 
second consecutive quarter.  


--
Xia Qingran

发生在软件领域的事情正在扩大到互联网领域。

正如专有软件公司正在走向开放一样，现在成功的互联网公司都是专有的，正在走
向开放或被新兴的开放互联网公司取代。

Yahoo作为专有互联网公司的代表，正在衰落，这就是创新。

上月底，给《CIO Insight》写了一个这方面的文章，稍后给大家分享一下。


徐继哲

在 2008-02-01五的 20:54 +0800，Xia Qingran写道：
> "Microsoft Offers $44.6B for Yahoo"
> 
> http://biz.yahoo.com/ap/080201/microsoft_yahoo.html
> 
> Microsoft Makes Unexpected $44.6B Offer for Internet Icon Yahoo
> 
> SAN FRANCISCO (AP) -- Microsoft Corp. has pounced on slumping Internet 
> icon Yahoo Inc. with an unsolicited takeover offer of $44.6 billion in 
> its boldest bid yet to challenge Google Inc.'s dominance of the 
> lucrative online search and advertising markets.
> ADVERTISEMENT
> 
> 
> 
> The surprise offer of $31 per share, made late Thursday and announced 
> Friday, comes with Sunnyvale-based Yahoo in a vulnerable position.
> 
> With its profits steadily sliding, Yahoo's stock slipped to a four-year 
> low earlier this week and a new management team has been trying to steer 
> a turnaround sees more turbulence through 2008.
> 
> The announcement sent Yahoo's share price up 60 percent in premarket 
> trading, while Google fell 8 percent.
> 
> In a letter to Yahoo's board of directors, Microsoft Chief Executive 
> Steve Ballmer said the world's biggest software maker will bid $31 per 
> share, representing a 62 percent premium to Yahoo's closing stock price 
> Thursday.
> 
> Since reaching a 52-week high of $34.08 in October, Yahoo shares have 
> fallen 46 percent. Yahoo climbed $11.47 a share, or 59.8 percent, to 
> $30.65 in premarket trading.
> 
> Ballmer revealed in the letter that Yahoo had rebuffed a previous 
> overture a year ago, saying it had a turnaround in the works. But he 
> pointedly noted Yahoo has instead deteriorated significantly.
> 
> "A year has gone by, and the competitive situation has not improved," 
> Ballmer added.
> 
> Under terms of the proposed deal, Yahoo shareholders could choose to 
> receive cash or Microsoft common shares, with the total purchase 
> consisting of 50 percent each cash and stock.
> 
> Microsoft said it sees at least $1 billion cost savings generated by the 
> merger, and intends to offer significant retention packages to Yahoo 
> engineers, key leaders and employees. The software giant said it 
> believes the takeover would receive regulatory clearance and close in 
> the second half of 2008.
> 
> Ballmer said Microsoft expects Yahoo's board will review its proposal, 
> but "reserves the right to pursue all necessary steps to ensure that 
> Yahoo's shareholders are provided with the opportunity to realize the 
> value inherent in our proposal."
> 
> Google shares fell $46.55, or 8.3 percent, to $517.95 in premarket 
> trading. Microsoft shares dipped $1.39, or 4.3 percent, to $31.21.
> 
> The announcement follows Yahoo's announcement late Thursday that Terry 
> Semel stepped down as chairman, severing his ties with Yahoo 7 1/2 
> months after he resigned as chief executive under shareholder pressure. 
> He had been criticized for failing to cash in on the Web advertising 
> surge as effectively as main rival Google Inc.
> 
> Yahoo co-founder and Chief Executive Jerry Yang said this week the 
> company will cut 1,000 jobs, or 7 percent of its work force, in an 
> effort to cut costs.
> 
> Meanwhile, Microsoft last week forecast a rosy 2008 -- despite broader 
> economic worries -- after it blew by Wall Street's expectations for a 
> second consecutive quarter.  
> 
> 
> --
> Xia Qingran
> _______________________________________________
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> zeuux-universe at zeuux.org
> http://www.zeuux.org/mailman/listinfo/zeuux-universe
> 
> ZEUUX Project - Free Software, Free Society!
> http://www.zeuux.org
-- 
Bill Xu
Founder, ZEUUX Project      | bill at billxu.com
Free Software, Free Society | +86 139 1051 1732
http://www.zeuux.org        | http://www.billxu.com