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Microsoft Bid Proving a "Significant Distraction" For Yahoo

     
11:31 am on Feb 28, 2008 (gmt 0)

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Yahoo Inc has faced significant distraction from Microsoft Corp's unsolicited takeover bid, the company warned investors on Wednesday in its annual report filed with U.S. regulators.

The Silicon Valley Web pioneer said in its annual report to the U.S. Securities and Exchange Commission that Microsoft's cash-and-stock deal, now valued at $41.6 billion (20.98 billion pounds), may continue to prove a distraction for the company and its management.

"The review and consideration of the Microsoft proposal (and any alternate proposals ...) have been, and may continue to be, a significant distraction for our management and employees," the company said in its report to the SEC.

Microsoft Bid Proving a "Significant Distraction" For Yahoo [uk.reuters.com]

12:16 pm on Feb 28, 2008 (gmt 0)

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LOL - I think they have made a bit of a bed for themselves with regards to the 9 (so far) filings from shareholders - this will be a significant proportion of time and some weighty costs from lawyers if gets out of hand.

Could be interesting - if this drags on too long, that $41bn may just drop into the 30's as more reports of higher costs and lower profits come in - especially from overseas subsidiaries.

[edited by: TinkyWinky at 12:17 pm (utc) on Feb. 28, 2008]

12:56 pm on Feb 28, 2008 (gmt 0)

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Instead of being "distracted" by the offer, they should consider accepting it and making everybody, especially their shareholders, happy.

I guess everybody wouldn't include Larry Page and Sergy Brin.

1:21 pm on Feb 28, 2008 (gmt 0)

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Shareholders can sell their shares even right now at a price close to what Microsoft offered, this is a lot more than it was before the bid so really, those shareholders who wanted to sell had this opportunity and still do.
1:26 pm on Feb 28, 2008 (gmt 0)

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Shareholders can sell their shares even right now at a price close to what Microsoft offered, this is a lot more than it was before the bid so really, those shareholders who wanted to sell had this opportunity and still do.

Not really.. if the equity partners in Yahoo tried selling the amount of shares they own the price would fall because the buy side probably wouldn't fill supply.

I hope someone buys Yahoo and puts a strong face against google. Just for the sake of having choice.

3:15 pm on Feb 28, 2008 (gmt 0)

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Yahoo Inc has faced significant distraction from Microsoft Corp's unsolicited takeover bid

Seems like a great way to excuse any huge losses they may be incurring right now. :) We'll see if they blame Microsoft if their next earnings statement is poor.
3:19 pm on Feb 28, 2008 (gmt 0)

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if the equity partners in Yahoo tried selling the amount of shares they own the price would fall because the buy side probably wouldn't fill supply.

That depends on how many shares they have. Do those shareholders that sued Yahoo hold so many shares that they can't possibly sell them on open market? I am not sure they do. And if they did then they should have been selling small amounts every day rather than sueing Yahoo.

5:07 pm on Feb 28, 2008 (gmt 0)

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Hell, by the looks of their search, they have been distracted for a LONG time now. They must all have been out to lunch, downing shots at lunch or something. Yahoo! needs to get their heads out of their butts to be sure.
6:58 pm on Feb 28, 2008 (gmt 0)

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Yahoo Inc has faced significant distraction from Microsoft Corp's unsolicited takeover bid, the company warned investors on Wednesday in its annual report filed with U.S. regulators.

Seems like a great way to excuse any huge losses they may be incurring right now. We'll see if they blame Microsoft if their next earnings statement is poor.

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7:38 pm on Feb 28, 2008 (gmt 0)

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The company said Microsoft's bid had the potential to unnerve business and advertising partners…

I know this may sound crazy, but here me out on this. Any chance “business and advertising partners” (i.e. their customers) get more unnerved from their atrocious customer service than from the possibility they might get bought?

Just a theory from someone who does business with them.

7:47 pm on Feb 28, 2008 (gmt 0)

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I'm waiting for the next headline:
"Microsoft has faced significant distraction from Yahoo Inc's rejection of Microsoft's unsolicited takeover bid, the company warned investors on Wednesday in its annual report filed with U.S. regulators."
 

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