Bingahoo Delayed a Month or Two (or More)?
For all of the drama and the back and forth of the Microsoft and Yahoo courtship from the summer it’s almost laughable to learn that the two still don’t have all the details ironed out yet. The deal that was originally supposed to be signed off on October 27th isn’t quite ready for the super huge pens that were used in the photo op pictures from July. We are now left to wonder what the heck wasn’t figured out before these two giants said “I do” in the summer.
Yahoo tells about the delay in getting the scheduled signing done in an SEC filing that the Business Insider reports
In their original July 29 agreement, Yahoo and Microsoft said they would sign finish negotiating the search deal by October 27.
“But,” reads the filing, “given the complex nature of the transaction, there remain some details to be finalized.”
“The parties are working diligently on finalizing the agreements, have made good progress to date, and have agreed to execute the agreements as expeditiously as possible.”
You have to wonder what these details are exactly. What if there is a big “Ooooops!” discovered where something was not ‘ironed out’ in the original negotiations? I can’t imagine such a thing happening but stranger things happen every second of every day so why not?
So what did Yahoo have to say on this one?
“Microsoft and Yahoo! are committed to this agreement and believe this is a highly competitive deal that is good for consumers, advertisers and publishers. We have made good progress in finalizing the definitive agreements. Given the complex nature of this transaction there remain some issues that need some additional clarity and definitive details. So, the teams at Yahoo! and Microsoft are continuing to work on the remaining details, and we have mutually agreed to extend the period to negotiate and execute the agreement. We plan to do this as expeditiously as possible. Both companies are optimistic that we will be able to close this deal by early 2010.”
Early 2010?! That’s not just missing a deadline that’s blowing past it and leaving it for dead. What would have been nice is if there was a definition on what early means. Of course, the longer it takes for the two sides to dot the I’s and cross the T’s the longer and more delayed the start of the regulatory process becomes thus possibly making the actual union even later than originally thought.
So don’t get too worried about what will or won’t happen when this deal is finally put in place. Who knows the US may even have some kind of healthcare deal in place before that happens.