From Silicon Alley Insider : It's been a few days since Microsoft's latest schizophrenic lurch on Yahoo, so it's time for another one: Microsoft and Carl Icahn have teamed up to agree on the following: If Yahoo's shareholders fire the board, Microsoft might reward them by ending their pain and buying the whole company : [W]e have never been able to reach an agreement in a timely way on acceptable terms with the current management and Board of Directors at Yahoo!. We have concluded that we cannot reach an agreement with them. We confirm, however, that after the shareholder election Microsoft would be interested in discussing with a new board a major transaction with Yahoo!, such as either a transaction to purchase the "Search" function with large financial guarantees or, in the alternative, purchasing the whole company. Or, importantly, Microsoft might NOT buy the company. Don't forget that Microsoft has already made one search deal with large guarantees that Yahoo was wise enough to reject. No guarantee that the next one will be that much better. Also, don't think for a minute, of course, that even if Microsoft is persuaded to buy Yahoo outright, that it will do it for $33. Microsoft refused to speculate about price, but at this point, there's no reason in the world they should pay more than $25-$27. After analyzing Carl's new "proposal", in fact, we've decided that, i f he wants our vote, he's going to have to give us more detail ...
Anytime
From Silicon Alley Insider : It's been a few days since Microsoft's latest schizophrenic lurch on Yahoo, so it's time for another one: Microsoft and Carl Icahn have teamed up to agree on the following: If Yahoo's shareholders fire the board, Microsoft might reward them by ending their pain and buying the whole company : [W]e have never been able to reach an agreement in a timely way on acceptable terms with the current management and Board of Directors at Yahoo!. We have concluded that we cannot reach an agreement with them. We confirm, however, that after the shareholder election Microsoft would be interested in discussing with a new board a major transaction with Yahoo!, such as either a transaction to purchase the "Search" function with large financial guarantees or, in the alternative, purchasing the whole company. Or, importantly, Microsoft might NOT buy the company. Don't forget that Microsoft has already made one search deal with large guarantees that Yahoo was wise enough to reject. No guarantee that the next one will be that much better. Also, don't think for a minute, of course, that even if Microsoft is persuaded to buy Yahoo outright, that it will do it for $33. Microsoft refused to speculate about price, but at this point, there's no reason in the world they should pay more than $25-$27. After analyzing Carl's new "proposal", in fact, we've decided that, i f he wants our vote, he's going to have to give us more detail ...