02.29.2008 Looking Back at February 2008
02.29.2008 Time Capsule finally arrives
02.29.2008 SpywareBlaster 4.0 is released
02.26.2008 Penryn-based MacBook and MacBook Pro
02.26.2008 iPhone and iPod touch software 1.1.4
02.19.2008 Toshiba surrenders the High-Def Format War, HD-DVD is fatally wounded
02.12.2008 Aperture 2 and AppleTV Take 2 arrive
02.11.2008 Mac OS X goes 10.5.2
16GB iPhone - $499.00
32GB iPod touch - $499
Microsoft has made their intentions clear, they want to assimilate Yahoo!. Microsoft has been approaching Yahoo! in 2006 and 2007 for some kind of partnerships and even a merger. Yahoo! has been rejecting the proposals, and now Microsoft is moving in for the hostile takeover. Now it is up to Microsoft and Yahoo! shareholders to decide the fate of this hostile takeover. This reminds me of Futurama episode “Future Stock”.
REDMOND, Wash. — Feb. 1, 2008 — Microsoft Corp. (NASDAQ:MSFT) today announced that it has made a proposal to the Yahoo! Inc. (NASDAQ:YHOO) Board of Directors to acquire all the outstanding shares of Yahoo! common stock for per share consideration of $31 representing a total equity value of approximately $44.6 billion. Microsoft’s proposal would allow the Yahoo! shareholders to elect to receive cash or a fixed number of shares of Microsoft common stock, with the total consideration payable to Yahoo! shareholders consisting of one-half cash and one-half Microsoft common stock. The offer represents a 62 percent premium above the closing price of Yahoo! common stock on Jan. 31, 2008.
“We have great respect for Yahoo!, and together we can offer an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market,” said Steve Ballmer, chief executive officer of Microsoft. “We believe our combination will deliver superior value to our respective shareholders and better choice and innovation to our customers and industry partners.”
Microsoft’s consistent belief has been that the combination of Microsoft and Yahoo! clearly represents the best way to deliver maximum value to our respective shareholders, as well as create a more efficient and competitive company that would provide greater value and service to our customers. In late 2006 and early 2007, we jointly explored a broad range of ways in which our two companies might work together. These discussions were based on a vision that the online businesses of Microsoft and Yahoo! should be aligned in some way to create a more effective competitor in the online marketplace. We discussed a number of alternatives ranging from commercial partnerships to a merger proposal, which you rejected. While a commercial partnership may have made sense at one time, Microsoft believes that the only alternative now is the combination of Microsoft and Yahoo! that we are proposing.
This is interesting, because Yahoo! owns numbers of widely used services such as Flickr, del.icio.us, Yahoo! Mail, and others. As a matter of fact, 37prime.com (this site) is hosted by Yahoo! Web Hosting.