Microsoft Raises Yahoo Bid
Well, that SOMETHING has finally happened, but no one is really willing to be much more specific than that. However, anonymous sources who apparently don’t know enough to give a hard number (or don’t want to get in trouble) say that Microsoft has increased its bid for Yahoo.
The AP reports that Microsoft’s price will now exceed its original offer of $44.6 billion ($31/share). Microsoft had lowered the offer to $42.4 billion, and its exact value has fluctuated with stock prices. However, Yahoo stockholders were rumored to be holding out for at least $35/share. Analysts have long predicted that the deal would come once the price came into the $32-35/share range.
Yahoo’s stock price has steadily risen over the course of the day as rumors have persisted that a Microsoft and/or Google deal was imminent.
The New York Times, who originated the story, has a more mixed verdict:
Microsoft, which had threatened to abandon its bid, has increased its offer “by several dollars” per share, one of those involved said.
A deal, however, was not close Friday night, these people said.
Insiders caution that a deal is not a foregone conclusion, but it seems that both sides want to avoid a hostile takeover. Microsoft’s move looks like a clear indicator of that.
News looks as though it will drag on through the weekend. Y’know, if not for the rest of our natural lives.