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Microsoft Wants To Acquire Yahoo; More Yahoos To Lose Jobs
While I thought Yahoo should acquire AOL, this morning we learn that Microsoft wants to acquire Yahoo in a deal worth $44.6 billion in cash and stock; provides 62 percent premium to current trading price for Yahoo! shareholders.
It absolutely makes sense for Microsoft with Yahoo trading (Nasdaq: YHOO) at a 50% "discount" off its 52-week high. The deal gets Microsoft what they have wanted for 10 years; a strong consumer Internet play.
I won’t copy the entire letter Microsoft CEO Steve Ballmer sent to Yahoo — you can read it on the Microsoft site — basically it speaks to the operational, transactional and financial effectiveness a deal like this would bring to both Microsoft and Yahoo.
The bottom line is whether a combined Yahoo/Microsoft is a stronger competitor to Google than each on its own. What do you think?
What does it mean for Yahoo employees? If you thought 1,000 layoffs reported earlier this week were a lot off the 12,000 total employees, get ready for more mass firings. Microsoft wants Yahoo for its technologies, consumer focused products like Flickr and Delicious, and the customers of their ad products. Sadly, I’ve been through many acquisitions on the buyer side and the seller side and the seller always loses massive amounts of blood.
I said last night that 2008 would be a very interesting year - deals like this one combining two of the three mega Internet powers show exactly that.
Again you prove why CN is the leader in blogging. The above is the most insightful read on the topic I have seen so far. Another body slam for CN over those that have people up 24/7 jobbing. :)
Rex
I have been almost away from my pc today. When i got onlind, i couldn’t belive it. This years biggest news. I think yahoo should not get anything like this. I really love yahoo services, and if ms acquires it, it will seem something rediculous. Hate microsoft. They don’t keep their services free like yahoo and google.
Oh, man… there goes the neighborhood.
Microsoft is not a leader in the industry for a reason. THEY SUCK AT IT. Combine that with their tendency to buy things just for the userbase, and then force their crappy software as a replacement, and you have a recipe for SERIOUS internet disaster.
God damnit… I love flickr…. even when yahoo bought them they didn’t interfere TOO much. MS is just the rich kid at the party who is gonna come in and destroy things.
This is a sad day for the internet if Yahoo accepts.
I believe that web-publishers and advertisers will ultimately benefit from this move (if it materializes, so to say).