ValueClick Inc.  (VCLK)     Rate VCLK  -  Discuss VCLK  -  Add to Watch List        

It has long been assumed by many investors that acquiring Valueclick (VCLK) would be the first step in "plan B" for Microsoft (MSFT) if its bid to take over Yahoo  (YHOO) was unsuccessful. When MSFT's Steve Ballmer recently ruled out a slew of acquisitions of smaller internet players after pulling its bid for Yahoo, ValueClick's stock seemed to lose some of its "takeover bait" premium over the next couple of trading sessions. Since that time, the sell off in ValueClick shares has intensified and the stock has set new 52 week lows three times over the last week as rumors swirl that it is

Recap of CNBC's Fast Money, Monday May 5. Click on a stock ticker for more analysis.
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Microsoft (MSFT), Yahoo (YHOO), Google (GOOG), Cisco (CSCO)

Microsoft would be much better served by buying ValueClick ( VCLK ) at a deep discount price of just $3B or $30 per share. The $3B price tag would reflect more than a 60% premium to the current ValueClick share price and would be welcomed with open arms by ValueClick management and board of directors. This price would be a significant bargain versus the $6B Microsoft paid for aQuantive last year and the $3B that Google has bid for DoubleClick.

At $30, ValueClick would be valued at just 4 times 2008 revenues, versus the 14 multiple Microsoft shelled out for aQuantive and the