Microsoft finds Yahoo's lack of faith disturbing
Microsoft has responded to Yahoo CEO Jerry Yang after the Yahoo board rejected Microsoft's unsolicited — but not yet officially hostile — takeover bid. "It is unfortunate that Yahoo! has not embraced our full and fair proposal to combine our companies." Interesting choice of words there. "Unfortunate." "Embraced." Does somebody need a hug?
The letter continues:
Based on conversations with stakeholders of both companies, we are confident that moving forward promptly to consummate a transaction is in the best interests of all parties.
Microsoft shareholders might disagree, since they've sent shares down significantly since the bid was announced.
The Yahoo response does not change our belief in the strategic and financial merits of our proposal. As we have said previously, Microsoft reserves the right to pursue all necessary steps to ensure that Yahoo!'s shareholders are provided with the opportunity to realize the value inherent in our proposal.
Translation: Watch out Yahoo. We're coming for you.