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February 9, 2008 10:25 AM
Yahoo opts to negotiate through press, asks for $40+
Posted by Brier Dudley
That's how I'm reading the WSJ story today citing an anonymous person close to Yahoo, saying the board wants at least $40 per share.
The headline says it all -- Yahoo is rejecting Microsoft's bid. In other words, Yahoo didn't reject the deal, it's negotiating for more.
Using the same sort of negotiating tactics you'd use if you were selling a sofa at a garage sale, this anonymous negotiator says in the Journal that Microsoft's getting a "steal" and the offer "massively undervalues" Yahoo.
From the story:
"The company is unlikely to consider any offer below $40 per share, the person said."
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Gadgets and games | Fun stuff I've written about lately includes Apple's iPhone, Hewlett-Packard's HDX laptop and Microsoft's Halo3. Also on the radar are new digital video boxes such as the Tivo HD and the Vudu.