Yahoo Faces Weekend Deadline from M$
The Evil Empire is gunning for Yahoo… and the jig may be up this weekend. I can hear the Vader music, Dum, dum, dum, dum, da dum, dum da dum!
“‘If Microsoft doesn’t ‘make progress’ in its Yahoo buyout bid by this weekend, the Redmond company will move on to options that include taking the offer to Yahoo shareholders and dropping the acquisition offer entirely, said Chris Liddell, senior VP and CFO at Microsoft, in a conference call late Thursday. [But] Microsoft is focused on the online ad market,’ due to industry predictions of major growth in this space over the next few years, Liddell told financial analysts and journalists during Microsoft’s third quarter financial call. Accordingly, Microsoft has developed a back-up ad strategy that will revolve around Windows Live and its other existing properties if the Yahoo deal stays stymied, Lidell said during the call, in which Microsoft announced net income of $4.4 billion — down 11 percent from the same quarter last year — on sales that rose only slightly this past quarter to $14.5 billion.