As mobs of Yahoo! shareholders everywhere grabbed their pitchforks and torches, shortly after they picked their mandibles up off of the ground, Jerry Yang, Yahoo!'s CEO, tried to explain the inexplicable. Yahoo!'s main man turned down a seemingly exceptional offer from Microsoft for $33 a share. His reason for not accepting the offer? He felt that Yahoo! is worth something in the realm of $38 a share. Oh really?
Let's put that into perspective: after Microsoft decided to stop playing economic ping pong with Yahoo!, Yahoo!'s stock dropped about 18% to about $23. That is still about 20 percent higher than it was before Microsoft made its initial offer.

Sounds to me like daddy thinks a bit more highly of his baby than logic would warrant. Still, it seems that shareholders are continuing to hope for a deal as Yahoo!'s stock went up to $26 a share. Or maybe, they actually believe that Yahoo! can come through with something brilliant. After all, Jerry Yang may just be hedging his bet on Yahoo!'s next big thing.

Yang betting on Y!Open to save Yahoo!

This entry was posted on Thursday, May 8th, 2008 at 3:27 pm and is filed under Google, Windows, Tech News, Microsoft, Yahoo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.