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60% Chance that Microsoft Will Now Walk Away from Yahoo! |
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| Apr 25, 2008 03:38 PM UTC |
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Tracked Blogger
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4/24 - "We now think it's more likely than not that Microsoft (MSFT) will withdraw its offer for Yahoo (YHOO) next week. This will likely send Yahoo's stock into the low $20s and Microsoft's up." "Microsoft's squishy quarter makes it less likely that Microsoft's rising stock will raise the value of Microsoft's bid on its own...Yahoo has dug itself in deep enough that we don't see the company caving and agreeing to sell at this price--especially in the next two days...We think lots of Microsoft shareholders and Microsoft employees hate this deal--as well they should, because it would be a disaster" "We think it will actually be harder for Microsoft to win a proxy fight at the current price that is commonly thought: At least 35% of Yahoo's stock is in the hands of folks who appear unwilling to sell without a price increase...Microsoft's public statements have now gone beyond threats to what appears to us to be acceptance and resignation. Maybe we're just falling for a negotiating tactic, but we don't think so." 
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