1st Official Response from Yahoo! to Microsoft Takeover Offer

It’s been a busy morning on the west coast! 

Jerry and Steve are definitely not slacking off right now. Imagine waking up, going to work and finding out that Bill Gates wants to buy you out… I guess they won’t be hanging around tailgating for the Superbowl this weekend…huh?

Here’s the text from the official press release from Yahoo! regarding the Microsoft Takeover Bid. It amounts to nothing more than a Delivery Confirmation of the original letter.

Yes, there was pressure to say *something* after the media flurry hit the press this morning.  But you’d think that Yahoo! could come up with something better than…”thanks, we’ll read it and get back to you.” Perhaps that’s exactly the point?  That’s why Yahoo! is in the position it is in right now?

Yahoo! Board of Directors to Evaluate Unsolicited Proposal From Microsoft

 

SUNNYVALE, Calif., Feb 01, 2008 (BUSINESS WIRE) — Yahoo! Inc. (Nasdaq:YHOO), a leading global Internet company, today said that it has received an unsolicited proposal from Microsoft to acquire the Company. The Company said that its Board of Directors will evaluate this proposal carefully and promptly in the context of Yahoo!’s strategic plans and pursue the best course of action to maximize long-term value for shareholders.

About Yahoo! Yahoo! Inc. is a leading global Internet brand and one of the most trafficked Internet destinations worldwide. Yahoo! is focused on powering its communities of users, advertisers, publishers, and developers by creating indispensable experiences built on trust. Yahoo! is headquartered in Sunnyvale, California. For more information, visit pressroom.yahoo.com. 

Yahoo! and the Yahoo! logos are trademarks and/or registered trademarks of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners. 

SOURCE: Yahoo! Inc

READ MICROSOFT’S ORIGINAL FORMAL LETTER TO YAHOO!