Microsoft has stated it is considering a deal with Yahoo! that would not involve a full buyout of the firm. Microsoft’s previous offer to acquire Yahoo! for $33 a share, a figure that valued the firm at $47.5bn was turned down. Last week Yahoo! rebuffed billionaire investor Carl Icahn’s plan to oust the existing board over the failed merger. Now Microsoft reveals that it is discussing with Yahoo! ‘an alternative transaction’, but did not give any details.
So, what about the ’stockholder value’? In a statement, Microsoft stated it “is not proposing to make a new bid for acquiring all of Yahoo! at this time, but reserves the right of reconsidering that alternative”. It issued the statement, ‘in light of developments” since the firm withdrew its bid two weeks ago. Microsoft underlined a deal may or may not take place. After the statement Yahoo! confirmed it was looking at several ‘value maximising’ alternatives with Microsoft, and the firm would assess offers made by the latter.
The internet firm stated its board would evaluate each of the alternatives that also include any Microsoft proposal with a focus on maximising stockholder value.
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