So Microsoft chief executive Steve Ballmer says the company is not looking to buy Yahoo. They're talking about other stuff that might "create value" or some such. It's pretty much what we learned on Sunday, when Microsoft and Yahoo disclosed that they were in negotiations.
Is a buyout really off the table? The market doesn't seem to think so. Shares are down a bit today but not by what you'd expect them to drop if the buyout was really done. Perhaps Ballmer is just sticking to the script, playing hardball to get a better price for Yahoo.
Still, this can't make Carl Icahn and the rest of his hedge fund cohort happy. (Then again, he's still up about $120 million, which would keep us happy.)
Microsoft Not Bidding to Buy Yahoo: CEO Ballmer [Reuters via ABC News]
Posted by Anal_yst , May 21, 2008 4:35PM
dood you know Ballmer just has his panties in a bunch over having foodstuffs thrown @ him earlier today over in Euro-land.
The look on his face: priceless!
Posted by onetwo , May 21, 2008 5:02PM
Icahn may be up $120, but the cohorts who joined him late may be in trouble if/when this falls through.
Posted by guest , May 21, 2008 5:06PM
Well, of course he'd say that.
Posted by Bulging Bracket , May 21, 2008 5:06PM
The video was sooo yesterday - well actually he got egged Monday and it hit blogs Tuesday. It just hit heavy rotation on CNBC this morning.
Everyone here is supposed to be ahead of the curve, not following the media!
Posted by John Carney , May 21, 2008 5:13PM
Good point, one-two.
Posted by Anal_yst , May 21, 2008 5:20PM
@ BB
Def been too busy (unfortunately) to be on top of things this week, arghhhh
Posted by guest , May 21, 2008 8:22PM
Isn't 90% of Icahn's position in options? If nothing happens most of those options are going to be worth a lot less.
-NSD