Here’s something to ponder over your morning coffee:
Microsoft bids $45 billion for Yahoo
Purty nutty…
Update: Here’s some more interesting details including that the proposal was made directly to the Yahoo! Board of Directors – write after their chairman resigned last night.
More Updates: Microsoft is going to hold a conference call at 0830 EST (0530 PST!). CFO.com thinks it is all one big churn. TechCrunch discusses the implications for Europe, but the EU Commission is not commenting. Finally, here’s the full statement to Yahoo!’s board, including this great comment:
In February 2007, I received a letter from your Chairman indicating the view of the Yahoo! Board that “now is not the right time from the perspective of our shareholders to enter into discussions regarding an acquisition transaction.†According to that letter, the principal reason for this view was the Yahoo! Board’s confidence in the “potential upside†if management successfully executed on a reformulated strategy based on certain operational initiatives, such as Project Panama, and a significant organizational realignment. A year has gone by, and the competitive situation has not improved.