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Summary:

No new numbers in Microsoft’s response to Yahoo’s (NSDQ: YHOO) formal rejection of its $31 per share bid earlier today but then none really…

No new numbers in Microsoft’s response to Yahoo’s (NSDQ: YHOO) formal rejection of its $31 per share bid earlier today but then none really were expected. Instead, Microsoft (NSDQ: MSFT) referred to its conversations with shareholders of both companies: “we are confident that moving forward promptly to consummate a transaction is in the best interests of all parties.”

Full text: It is unfortunate that Yahoo! has not embraced our full and fair proposal to combine our companies. 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….

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.

The Yahoo! response does not change our belief in the strategic and financial merits of our proposal. As we have said previously, Microsoft 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.

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  1. Vijay Kumar Mandava Tuesday, February 12, 2008

    As I already said Microsoft responded immediately with its

  2. preetam mukherjee Tuesday, February 12, 2008

    is it just me being cynical, or is Microsoft worrying a little too much about Yahoo!'s shareholders??

    "all necessary steps": i'm thinking they(microsoft) are going to give this(acquisition) another shot(increasing the $31) in a week or so.

  3. Vijay Kumar Mandava Tuesday, February 12, 2008

    Microsoft responded immediately. But there is no clear signal about increased bid.

    I believe Microsoft will come out with an increased bid with in acouple of weeks. The offer might be in the range of $35 to $38 per share.

    Vijay Kumar Mandava
    Hyderabad

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