Feeds

Yahoo! to Microsoft: No surrender!

84 Charing Cross Road without the affection

Remote control for virtualized desktops

Yahoo! has replied promptly to an open letter sent to them by Microsoft's chief executive Steve Ballmer on Saturday.

Ballmer's letter set Yahoo! a three-week deadline to conclude an agreement or Microsoft would take its $44bn offer directly to shareholders.

In response, Yahoo's chief exec Jerry Yang said the board of directors has not changed its mind since it rejected the offer 11 February. He said that Yahoo!'s outlook had not changed its forecast for earnings since then and continued to believe the offer "substantially undervalues Yahoo!".

Yahoo! said Ballmer's letter "mischaracterizes the nature of our discussions with you".

Ballmer said Yahoo! had chosen "not to enter into substantive negotiations with us [Yahoo]".

On the contrary Yahoo's Yang said: "We have had constructive conversations together regarding a variety of topics, including integration and regulatory issues... Moreover, Steve, you personally attended two of these meetings and could have advanced discussions in any way you saw fit."

Yahoo!'s letter also said that Microsoft had failed to respond to questions sent 28 March relating to possible anti-trust and other regulatory matters.

Yang's letter, signed off "Very truly yours", ends: "We are open to all alternatives that maximize stockholder value. To be clear, this includes a transaction with Microsoft if it represents a price that fully recognizes the value of Yahoo! on a standalone basis and to Microsoft, is superior to our other alternatives, and provides certainty of value and certainty of closing. Lastly, we are steadfast in our commitment to choosing a path that maximizes stockholder value and we will not allow you or anyone else to acquire the company for anything less than its full value."

The full letter is here. ®

Intelligent flash storage arrays

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?