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News Corp. a Smokescreen; MSFT Drawing Up Terms
Posted Feb 14, 2008 10:44am EST by Sarah Lacy in Investing, Internet, Media, Venture Capital, M and A, IPOs
Sorry, Yahoos, the deal with News Corp isn't happening. According to my sources, talk of the talks has been way overblown. Just as Henry and Aaron said this morning, it's a Yahoo negotiating tactic. On the eve of Microsoft's offer, two different private equity groups were preparing their own Yahoo bids and at least one offered its services to News Corp. Murdoch's people said he "wasn't interested."
Separately, another source tells me that Microsoft is so confident it's nearing a price that Yahoo's largest shareholders want -- and Yahoo can't refuse -- that it has already started the regulatory paperwork. This source expects a deal in the $35-per-share range within the next 10 days. Once Steve Ballmer gets the largest institutions on board, all the News Corps in the world can't save Yahoo. It's a volatile market, and Wall Street money managers aren't going to let go of a guaranteed return.
18 Comments
BrianM - Thursday February 14, 2008 11:01AM EST
Henry Blodgett was fired by Merrill Lynch for promoting dot coms in '98-'01 that he knew had no value - costing investors millions. He is a liar and a crook. Why anyone would trust anything he says is beyond me.
sergioc - Thursday February 14, 2008 11:17AM EST
That was then..this is now...we were all caught up in the tulips...hey Sarah..you're mighty pretty...hope you are as right as you are pretty!!! Don't you think MSFT would want to throw a knock-out punch and offer 38-40...end of story deal gets done..Jerry's pants are down and it's over...fati compli...(spelling ?)
BATO - Thursday February 14, 2008 11:18AM EST
Those institutions owning both yhoo and msft stocks pushing for a lower bid for yhoo, are they in violation of their fiduciary obligation to yhoo investors? NEED ANSWERED PLS.
Yahoo! Finance User - Thursday February 14, 2008 11:31AM EST
Who cares? Get the deal done already. Gimme $35 and this Yahoo dog is YOURS Mr. Softy!
Yahoo! Finance User - Thursday February 14, 2008 11:38AM EST
Don't listen to those Wall Street thieves! They try to coax Microsoft into paying more so that they can make more out of it. Ballmer is digging a tomb for Microsoft. If it does go through, Yahoo will eat Microsoft's head like a praying mantis.
Sarah - Thursday February 14, 2008 11:41AM EST
@sergiocagasort: thanks! (and i couldn't agree more with your defense of mr. blodget) Re: msft: no need to throw a knock out punch that high. with no other suitable bidders and in a market like this, $35 is a knock out punch. blodget thinks i'm too high saying $35 http://www.alleyinsider.com/2008/2/lacy__yahoo_news_corp_a_smokescreen__yhoo_msft_done
Yahoo! Finance User - Thursday February 14, 2008 12:02PM EST
About YAHOO AND MICROSOLF' opinion whoever did today is wrong ( EAT) Yahoo is a greatfull source and smart searching engine ,really unfair to somebody.....
Albert - Thursday February 14, 2008 12:33PM EST
Are we so sure the Congress will go along. Personally I like Steve to choke on this one. Microsoft has a poor record for years with their purchases. Really, we need less compition in the market? Go Google.
duffies - Thursday February 14, 2008 12:42PM EST
give in to the dark side yahoo.... MUAHAHAHAAHHA!@!@!@!@
duffies - Thursday February 14, 2008 12:42PM EST
give in to the dark side yahoo.... MUAHAHAHAAHHA!@!@!@!@
sap_vb - Thursday February 14, 2008 03:10PM EST
This will be an absolute bust for MSFT. I will leave my wounderful email account and all of Yahoo's services to go to google! MSFT is a tyrant and has still not allayed concerns to the European trade commision. Now to try to corner the internet space with this Yahoo takover smells of hubris. Goodbye yahoo. Hello Google.
Yahoo! Finance User - Thursday February 14, 2008 03:45PM EST
The deal is only worth $28, and no more!!!!
Aravind - Thursday February 14, 2008 04:24PM EST
Yahoo is a catch for MSFT. On it's own, MSFT is dead in the internet waters and can't compete with Google now or never. I heard they had offered $43 in the past to Y! and mid to low thirties is a steal for the evil empire!
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B - Thursday February 14, 2008 10:59AM EST
now thats truely the main point about steve and the institutions.