Microsoft Decides Not To Bid Against Itself; No To Price Rise on Yahoo: Report
This story was written by Rafat Ali.
Microsoft (NSDQ: MSFT), not in any particular mood to bid against the only competition it has --itself-- has no plans to raise its $44.6 billion bid for Yahoo (NSDQ: YHOO), reports WSJ, citing sources. The company is instead biding its time, and so far has had only one formal meeting with Yahoo on the offer.
The strategists on MSFT's side argue that Yahoo's recent roadshow failed to dazzle investors, and on top of that, the worsening economic downturn and stock-market weakness make the original bid look even more generous, the story says.
By Rafat Ali