Legg Mason to Yahoo: We’re Behind you 100%, Now Take the Microsoft Offer
Do you like to read between the lines? It’s one of my favorite pastimes. Let’s play a round of "What they really mean?"
Bill Miller, Legg Mason’s portfolio manager said, "If Microsoft lowers the price, I’m not prepared to say that’s better than Yahoo remaining independent." Legg Mason holds a 7% share of Yahoo.
Translation: We want them to take the current offer from Microsoft.
Wasn’t that fun?
Seriously, CNET leads with the headline "Yahoo gets investor support in efforts to fend off Microsoft" but all I see is Legg Mason stating they’d be on Yahoo’s side, if Microsoft were to lower its bid.
Sounds like the sort of canned "we support him" talk that Athletic Directors give a losing coach, late in the season.
I’d love to see Yahoo turn itself around, and come out fighting. Then again I hoped coach Chuck Amato would lead the Wolfpack to another back to glory.