Yahoo CEO: Microsoft Was Stubborn

People involved in relationships that end abruptly often have grossly conflicting accounts of what went wrong. On Monday, Jerry Yang gave his version.

In an interview, Mr. Yang, Yahoo's co-founder and chief executive, addressed Microsoft's surprise $44.6 billion bid to buy his company and the three-month corporate saga that ensued.

He said he was open to selling Yahoo to Microsoft all along, but that Steven A. Ballmer, Microsoft's chief executive, and his dealmakers ultimately declined to negotiate and withdrew their proposal on Saturday with little explanation.

"They chose to walk away after we put a price on the table, and they didn't want to negotiate," Mr. Yang said. "From my perspective, we were open all along to selling to Microsoft. We just feel Yahoo, either standalone or with Microsoft, is worth more than what they put on the table."

Mr. Yang's account conflicts with that of Microsoft's advisors and executives. They have said that they received no counteroffer from Yahoo for three months, after Microsoft's deadline to consummate the deal had expired. They also say that Mr. Yang and his board settled on a price of $37 a share and ultimately refused to budge.

Read the whole story here.

Comments

[Politiking]

Stop making excuses Mr. Yang, you are an idiot. Supposedly, you were this technical genius, but you are not a business man; you are an imbecile. You lost the opportunity for Yahoo! and its shareholders like myself to make money and turn Yahoo! into a profitable venture with Microsoft. I hope you and the board are removed soon so this deal can go through.

[Sumocat]

"We just feel Yahoo, either standalone or with Microsoft, is worth more than what they put on the table." -- And yet your stock price just fell to a lot less than what they offered, leaving you quite vulnerable to a hostile takeover. Funny how that works out.

[HmblDog]

microsoft has reached their peak. if you think a microsoft - yahoo merger was a good idea good for you. go short yahoo stock as though you believe it.

[jubo]

'But when Gates realized we are allegiant to the Chinese Government he relented.'

[Synoia]

Mr Yang. You are history. There is no way, barring a miracle, that you can get Yaho's share price to $37 a share in the next 12 months. Yahoo is already falling behind Gogle on a daily basis, and now we know why.

You and you alone are to blame. Your ego over the shareholders. Way to go.

[dadw5boys]

If cell phone stocks can remain high with gas prices at this level then YAHOO is worth $50 a share.

[DRaymond]

Since when is not accepting a way-too-high-price not constitute 'stubborn'.

Don't feel too bad, Mr Yang, having too inflated an idea of your own worth is not something exclusive to corporations.

[thegreatgiginthesky]

Well Mr. Yang, you can smile your way into oblivion and watch Microsoft buy your company out for half the price they originally quoted you. Smile for the camera, you are this years biggest loser. Now go sit in the corner with your pal William Hung.