Microsoft Gets Lucky and dodges an expensive bullet
Oct 14th, 2008 by admin
Microsoft’s failed Yahoo bid now looks like lucky miss
From the Seattle Times:
"Microsoft Chief Executive Officer Steve Ballmer said he was disappointed Yahoo refused a takeover offer that went as high as $47.5 billion back in May. Now he looks lucky.
Yahoo closed Monday with a market value of $18.7 billion, so Ballmer’s failure to seal the purchase saved the biggest software maker from a writedown that could have rivaled the industry’s most vilified deals. Yahoo ended Monday at $13.49 on the Nasdaq Stock Market. "
Talk about a lucky break. I know MS would have loved to complete this deal, but like the article says, I’m pretty sure he is happy he didn’t close it when they did. It seems this economy is effecting everything. But if your business has the cash, this would be a great time to acquire the assets you need to grow your business.
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