Sign In
SHARE
The Fight for Yahoo
The more I think about it, the more I like this idea of a joint bid for Yahoo from Microsoft and News Corp. The bits of Yahoo which Microsoft doesn't want - call them "content", if you like - are precisely the bits which Murdoch would love. Meanwhile, as Sam Gustin points out, the Yahoo-AOL-Google rival approach seems to have a zero chance of passing regulatory muster.
The whole situation reminds me weirdly of the fight for ABN Amro. The deal that the target company wanted, with Barclays, never worked out, partly because Barclays stock was about as healthy as Time Warner's. In the end the bank got sold to a consortium of strategic bidders: an approach which managed to multiply synergies.
The biggest winners of all in that deal, of course, were ABN's shareholders, which means that anybody holding Yahoo on Wednesday night is waking up smiling on Thursday. It's still conceivable Yahoo will be sold for $31 a share; it's pretty much unthinkable at this point it will be sold for any less. And it might well now go for significantly more. Expect the risk-arbs to have a lot of fun today.
Loading...
Thank you for registering as a Portfolio.com Insider. Your comment has been added.
Create Your Public Profile
- The Times' Rorshach Geithner Story
- Apr 27 2009 9:26AM EDT
- Sinking Animal Spirits
- Apr 27 2009 8:45AM EDT
- Counter-cyclical Urban Policy
- Apr 26 2009 10:00AM EDT
- Be Your Own Counterfeiter
- Apr 26 2009 9:36AM EDT
- Being Tim Geithner
- Apr 25 2009 12:37PM EDT
- Notes From a Press Conference Naif
- Apr 25 2009 9:41AM EDT
- What Good is the News?
- Apr 25 2009 8:32AM EDT
- Stressful Enough
- Apr 24 2009 2:29PM EDT
- Not Regretting the Pound
- Apr 24 2009 1:09PM EDT
- Introducing the New Ford Squeeze
- Apr 24 2009 9:47AM EDT
- Non-Economic Questions of the Day
- Apr 24 2009 9:12AM EDT
- The Stress Test Blind Alley
- Apr 24 2009 8:36AM EDT
- Happy Hour
- Apr 23 2009 9:40PM EDT
- Recovery Without Rebalancing
- Apr 23 2009 6:13PM EDT
- The Shape of Your Recession
- Apr 23 2009 5:11PM EDT
Archive
Categories
Links
- Email Ryan Avent
- Econospeak
- Financial Crookery
- The Epicurean Dealmaker
- Naked Capitalism
- Alphaville
- Marginal Revolution
- The Panelist
- FP Passport
- Overcoming Bias
- Andrew Leonard
- Barry Ritholtz
- Brad Setser
- Carbon Tax Center
- Calculated Risk
- Greg Mankiw
- Free Exchange
- Dean Baker
- Alexander Campbell
- Kash Mansori
- The Bayesian Heresy
- A Fistful of Euros
- John Quiggin
- Michael Mandel
- Lance Knobel
- Mark Thoma
- Dan Gross
- Curbed
- Streetsblog
- Chris Anderson
- Deal Journal
- MarketBeat
- DealBook
- DealBreaker
- Carl Bialik
- Michelle Leder
- Brad DeLong
- Ultimi Barbarorum
