It’s decided – Yahoo CEO Jerry Yang is schizophrenic.
To this day, I have to say that the best thing for Microsoft to do is to buy Yahoo. I don’t think that is a bad idea at all – at the right price, whatever the price is, we are willing to sell the company. We were ready to negotiate, we wanted to negotiate a deal, and we felt that we weren’t that far apart. But at the end of the day, they withdrew and they since have been very clear about not wanting to buy the company.
Dude, Jerry, Buddy. What’s going on over there? Microsoft had expressed more than a fleeting interest earlier this year when it offered struggling internet giant Yahoo a cool $44.6 billion, a 65% premium over the stock price at that time, in a proposed acquisition. At that time, Yahoo did everything it could to squash the deal short of literally driving to Washington and setting fire to Bill Gates’ cat. Now that hindsight is 20/20 and that $44.6 billion is looking pretty damn good, Yang starts pulling these shenanigans in telling the world that he is, and was, all for an acquisition. If Carl Icahn can survive reading this news without having a stroke or hiring a hitman, it’ll be a small miracle.