Sing along with Jerry Yang (apologies to Amy Winehouse):
They tried to make me go to Redmond
I said no, no, no.
Yes it's been bad, the stock'll come back
We'll grow, grow, grow
We ain’t got a clue
But Mr Ballmer thinks we do
He's tried to make me go to Redmond
I won't go, go, go.
I’d rather be at home by the Bay
But can't just sit here an' pray
Cos there’s nothing, nothing they can teach me
That I can't learn from Dr Eric Schmidt
41 B's not enough
But we're worth more than that small stuff
They’re tryin to make me go to Redmond
I said no, no, no
Yes it's been bad, the stock'll come back
We'll grow, grow, grow
We ain’t got a clue
But Mr Ballmer thinks we do
He's tried to make me go to Redmond
I won't go, go, go.
I think Yahoo should accept the deal, there’s no way they can reverse the course at this point, and they’ve tried. Another six month they could be in the red, then the takeover will be nasty and the losers will be the shareholders.
Either identifying an alternative option to their shareholders or responding to Microsoft with the price Yahoo thinks would be reasonable.
Microsoft has basically said "Hey, guys. We made an offer that's more than a 60% premium over your share price. If you won't accept that (or even let us know what price you will accept) we'll take this right to your shareholders and do this the hostile way at a price that's lower than our current offer."
I disagree. Microsoft presented an offer, Yahoo! rejected it outright. After being rebuffed, it is incumbent upon Microsoft to either inquire about more amenable terms (to Yahoo!), or to withdraw their pretense of negotiation and go to the shareholders.
