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Have a Nice Weekend Yahoos!
Let's play hardball! Steve Ballmer just threw the high heat.
Microsoft is reconsidering its $45 billion bid for Yahoo because Jerry Yang's beleaguered company may have lost value since the offer was originally made, Reuters reported late Friday.
Citing "a person familiar with the matter," the news service said that deteriorating market conditions as well as "changes in Yahoo's business" may have "dragged down its value below what it was when Microsoft made its bid."
As a result, Microsoft reportedly says it is "evaluating" its offer — a barely veiled threat that the software giant could lower its bid, or pull its offer altogether. Both scenarios could harm Yahoo shareholders — and if the deal is yanked altogether, Yahoo shares could plummet back below $20, where they were before the bid.
The disclosure appeared to be a controlled leak designed to give Yahoo's board, management, and shareholders a clear warning — something to ponder over the weekend.
After Reuters published its article, Yahoo shares fell 4 percent to $27.22 in late trading Friday; Microsoft shares rose 1 percent to $29.45.
by Sam Gustin
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