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Microsoft rejects Yahoo! rejection
You ungrateful 'unfortunates'
Steve Ballmer still wants to swallow Jerry Yang's company.
Just a few hours after Yahoo! rejected Microsoft's $44.6bn purchase offer, the Redmond-based software giant has responded, reiterating that it "reserves the right to pursue all necessary steps to ensure that Yahoo!'s shareholders are provided with the opportunity to realize the value inherent in our proposal."
In a statement released this afternoon, Microsoft calls Yahoo!'s rejection "unfortunate".
"It is unfortunate that Yahoo! has not embraced our full and fair proposal to combine our companies," the statement begins. "Based on conversations with stakeholders of both companies, we are confident that moving forward promptly to consummate a transaction is in the best interests of all parties."
In other words, Ballmer and company will continue its talks with the Yahooligans and will likely increase - or hell maybe even decrease to teach Yahoo! a lesson - its bid. Chances are, Yahoo! rejected the initial offer in a shameless effort to push the price tag higher.
In any event, Microsoft still believes that this acquisition is one great idea. "We are offering shareholders superior value and the opportunity to participate in the upside of the combined company. The combination also offers an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market.
"A Microsoft-Yahoo! combination will create a more effective company that would provide greater value and service to our customers. Furthermore, the combination will create a more competitive marketplace by establishing a compelling number two competitor for Internet search and online advertising."
With Google as the number one competitor, we question how compelling this number two will really be. Google controls about 60 per cent of the worldwide search market. Microhoo! would control about half that. But one thing's just about certain. Microhoo will happen. One way or another. ®