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CONFIRMED: Microsoft-Yahoo in Negotiations, Price Up 'Several Dollars'

Posted May 02, 2008 03:55pm EDT by Henry Blodget in Investing, Internet, Venture Capital, M and A, IPOs
Related: msft, yhoo

From Silicon Alley Insider, May 2, 2008:

UPDATE: The WSJ has confirmed our earlier assumption: Microsoft has been silent because Microsoft and Yahoo are now negotiating seriously about consummating a friendly deal. Microsoft has raised its bid "by several dollars."

According to the WSJ, a "deal was not imminent and the people familiar with the matter said an agreement was not likely on Friday. The people cautioned that the talks could fail to produce an accord."

The NYT adds that Microsoft has increased its price by "several dollars" (presumably to $32-$33). Yahoo's stock, which has been climbing all day, has now spiked.

EARLIER: Some folks seem to be under the impression that Microsoft (MSFT) is having trouble making up its mind about what to do about Yahoo (YHOO) and that that's why we haven't heard anything.

Please.

The silence suggests that two companies are negotiating furiously behind the scenes. The fact that CNBC's David Faber was able to report this morning that we won't hear anything until the weekend (if then) suggests that the companies have found--or are close to finding--common ground.

In fact, the longer the silence lasts, the more likely we are to get a deal. The companies are very close--$33 and $37, per the Journal--so a deal seems likely even without serious negotiations. But at this point, if there were any true deal-killers on either side, Microsoft already would have walked (or gone hostile or whatever).

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