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Ballmer Prepares to Go Hostile: Names 'Very Strategic' Slate
Posted Apr 24, 2008 10:30am EDT by Aaron Task in Investing, Internet, Venture Capital, M and A, IPOsWith Steve Ballmer's deadline for going hostile rapidly approaching, Microsoft has named a slate of directors to potentially supplant Yahoo's current board.
The list has 10 nominees and three alternates, says The Wall Street Journal, and includes:
- John Chapple, former Nextel Partners CEO
- Edward Meyer, former Grey Global Group CEO
- Jaynie Studenmund, former chief operating officer of Overture Services (acquired by Yahoo in 2003)
- Vanessa Wittman, former Adelphia Communications Corp. CFO
The slate is not exactly a "who's who" of Silicon Valley titans but is a "very strategic slate," says David Kirkpatrick, senior editor, Internet and technology at Fortune.
Microsoft's slate is "exactly the kind of people Yahoo needs on its board," Kirkpatrick says, citing their experience in four key areas: wireless (Chapple), mass market advertising (Meyer), Internet search advertising (Studenmund), and broadband (Wittman).
Generally speaking, Kirkpatrick believes the Microsoft-Yahoo combination makes sense and that Microsoft has the marketing and financial muscle to improve Yahoo's best properties. Yahoo employees "should not fear Microsoft," he says, while acknowledging putting the two huge companies together will not be easy or painless.
Amid today's reports that Microsoft employees oppose the deal (WSJ) and that Microsoft may yet sweeten its bid (NY Post), Kirkpatrick believes Ballmer will ultimately capture his prey -- even if he has to go hostile to do it.
27 Comments
Pam - Thursday April 24, 2008 01:25PM EDT
Microsoft is far too big, powerful and sectored to give up on this deal. Kinda like an aligator that has your foot in its jaws....ya gotta give them a good reason to let go. Secondly, it might not be such a bad deal if they keep YHOO as search/advertising/contact applications, which I suspect is why they want it. For all of Jerry's pomp and circumstance, YHOO is still search and contact oriented, so get over it already!
steelDragon - Thursday April 24, 2008 02:06PM EDT
Without any doubt, MSFT will buy YHOO. Question is when and how. I think that would be good for industry as it will lead to more competition in ad and search space. Lets hope that both togather can compete GOOG
Yahoo! Finance User - Thursday April 24, 2008 03:26PM EDT
Mr. Ballmer needs YHOO like the captain of Titanic a lifeboat.
Yahoo! Finance User - Thursday April 24, 2008 03:55PM EDT
Ballmer's afraid he's going to screw this up. He's been criticized and scorned by too many people. This guy's a loose cannon. Look at the sunken-back-in-the-head eyes. No one comes to the table with their best offer right off the bat. He's ticked at Yahoo and he's letting it affect his judgement. Maybe he doesn't have enough clout with HIS board! If he did come to the table with his best offer first, then he's more dumb than i even thought. Show some kahunas and up the offer and if they don't accept, then you've got a legit beef to be pissed! By the way, who taught you your negotiating skills. (Show it to us!)
AnInfiniteDream - Friday April 25, 2008 07:39AM EDT
What's the deal with Yahoo Finance showing Yhoo with a PE of 36? Does anybody else see that? I've refreshed my page multiple times but it stays there as 36. Last I checked 27.3/0.48=56.88 not 36. Yahoo on trailing and forward earnings put this stock at nearly twice as expensive as Apple. Yahoo's not worth a premium to the best, it's not even worth a premium to the sector.
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Yahoo! Finance User - Thursday April 24, 2008 01:00PM EDT
All this is just an MSFT ego trip/game to get back at YHOO's initial refusal.. "Who the heck do them YAHOO fools think they are? Hey boy!, hand me maa hostile gun, will ya? YEEEHAAAA"