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Shares of Yahoo! Inc. were down 22% in the premarket as its stockholders braced for a painful day after Microsoft Corp. dropped its bid over the weekend. At roughly 8 a.m., the stock traded around $22.36, while Microsoft shares rose 5.9% to $30.96. However as the opening bell approached, the stock has edged higher.
Microsoft had reportedly raised its offer to $33 a share, valuing the
deal at $47.5 billion. Yahoo! instead demanded $37 per share, prompting
Microsoft to pull the acquisition bid altogether. Still Yahoo!'s stock price has
not hit the $19.18 they traded at the day before Microsoft's takeover efforts began,
primarily because many stockholders believe the software maker will be
back for another try should Yahoo! continue to struggle as it chases
Google Inc. and management deals with the inevitable lawsuits connected with
the failed merger.
On the Yahoo! Finance message boards, debate raged. Posters tended not to be fence-sitters, either very much against management's rejection of Microsoft or very much in favor. One poster summed up the negative sentiment with: ""Yahoo! Is a Disgrace - Jerry Yang and his board should be forced to resign." While another added: "WOW..... YOUSE GUYS ARE @#$%ED!!! You can blame stupid yahoo management for that red hot poker up your ### this morning. Foolhardy attempt to squeeze every last nickel out of the deal and look what you have. Instead of a pile of money in your greedy, sweaty, hands, you have a pile of @#$%. Hope you fools sold at 30. Live and learn, but in the meanwhile, BURN!!" And another predicted, "Yahoo Going to $10.00 Per Share! Watch it!" A poster in management's corner said: "Jerry Yang is a brave and smart CEO. YHOO is worth at least $40. I agreed with his decision..time will tell." While another poster wrote: "Microsoft will beg in July for you dopes to take 37, but Yahoo will be on a hot streak with numerous deals by then." - George White See Yahoo story on TheDeal.com See Yahoo Dealwatch See Yahoo message boards Categories Deal Video
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