Remember When Thomas Hawk Said If He Were Microsoft He’d Lower His Bid for Yahoo?

Google, Er, Yahoo Car Needs a Bath

Remember?

Remember?

Get ready to watch Yahoo’s stock get pounded on Monday morning?

From Balmer: “I first want to convey my personal thanks to you, your management team, and Yahoo!’s Board of Directors for your consideration of our proposal. I appreciate the time and attention all of you have given to this matter, and I especially appreciate the time that you have invested personally. I feel that our discussions this week have been particularly useful, providing me for the first time with real clarity on what is and is not possible…

…I still believe even today that our offer remains the only alternative put forward that provides your stockholders full and fair value for their shares. By failing to reach an agreement with us, you and your stockholders have left significant value on the table.

But clearly a deal is not to be.”

That’s rich.

According to News.com Microsoft’s pulled it’s Yahoo bid. My bet, Microsoft lets Yahoo twist in the wind a bit, lets the shareholder lawsuits get all tangled. Then pays a lot less than they were going to in the first place.

How many billions will Jerry Yang’s ego end up costing Yahoo shareholders?

More from TechCrunch here and Kara Swisher here.

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0 comments on “Remember When Thomas Hawk Said If He Were Microsoft He’d Lower His Bid for Yahoo?
  1. TranceMist says:

    There are some things that are worth more than money.

    Independence from Microsoft is one.

  2. I’d say that Yahoo, with successful and active properties, should be buying MS. With the huge flop of a vista, it’s MS who’s in trouble.

    I foresee Yahoo going on to strengthening their position, in a place to make an offer on many high end companies, all whilst MS watches from the injured reserve list.

    (Depending on your entire profit coming from the Xbox 360 is foolish.)

  3. DerekL says:

    “How many billions will Jerry Yang’s ego end up costing Yahoo shareholders?”

    You say that as if the sale were an unqualified Good Thing. As a Yahoo! shareholder, I couldn’t agree less.

    Yahoo! is a stable and successful company, while Microsoft is in trouble – trouble that is only worsening.

  4. TranceMist says:

    Well my friend, the market has indeed spoken today.

    MSFT -20%
    YHOO +22%

    I’m glad you were wrong on this (at least today, we’ll see long-term).

    The world needs good independent companies, even if they’re struggling. A world dominated by Microsoft (or any one company) would be a bad thing.

    (Thanks to Scoble via FriendFeed for the graph link)

  5. TranceMist says:

    Oops.

    I’m suffering from wishful delusional thinking. I totally misread that graph.

    YHOO +15%
    MSFT -0.5%

  6. Daniel says:

    Let’s see here… before Micro$oft’s bid, Yahoo’s stock was at $19.18/share (market cap: $26.4 billion). Today, after Jerry Yang’s display of egotism, YHOO closed at $24.37/share (market cap: $33.5 billion).

    What did it cost Yahoo shareholders?

    I think the better question is: what was the cost to Microsoft’s shareholders?

    http://www.kottke.org/08/05/yahoo-stock-plunges

    But I don’t come here for stock advice. I come to see great photos! :)

  7. Quikboy says:

    I hope Yahoo! loses on this. Jerry Yang is an idiot to miss out on such an opportunity for his employees, shareholders, and even the users.

    Can’t wait to see the YHOO stock continually go down.