After weeks of negotiations between Microsoft and Yahoo, Microsoft has withdrawn it’s bid to buy the company. This spells bleak times for Yahoo.
Early today Microsoft withdrew their February 1 offer, and said they won’t go above $33 a share even thought Yahoo wanted $37. Then Steve Ballmer sent an email to all Microsoft employees that explains the deal news to his employees.
Several blogs, including TechCrunch, now predict that Yahoo faces a bleak world next week; TechCrunch predicts stock prices for Yahoo will tank. And finally Yahoo has issued a press release suggesting it is relieved that the pesky Microsoft distraction is behind them, but do they really mean it?
And to top it off Yahoo shareholders are angry. Shareholders from the beginning have insisted they were happy with the $33 a share deal and now we expect Yahoo to announce that they will delayed their annual shareholder meeting and actually hold it in late June. Shareholders might just be angry enough to start a hostile takeover of the company if Yahoo isn’t careful.