Since Microsoft’s attempt earlier this month to bully Yahoo into submission, Yahoo decided to publicly respond.
In a letter sent over the weekend, Roy Bostock and Jerry Yang had a few barbs sent Microsoft’s way:
As a follow up to a recent meeting among our respective legal advisors we had on this topic, and at your request, we provided to you on March 28 a list of additional information we would need to further our understanding of the regulatory issues associated with any transaction. To date, you have still not provided any of the requested information…
We consider your threat to commence an unsolicited offer and proxy contest to displace our independent Board members to be counterproductive and inconsistent with your stated objective of a friendly transaction. We are confident that our stockholders understand that our independent Board is best positioned to objectively and knowledgeably evaluate our Company’s alternatives and to maximize value.
In conclusion, please allow us to restate our position, so there can be no confusion. We are open to all alternatives that maximize stockholder value. To be clear, this includes a transaction with Microsoft if it represents a price that fully recognizes the value of Yahoo! on a standalone basis and to Microsoft, is superior to our other alternatives, and provides certainty of value and certainty of closing.
Seems pretty clear to me. Yahoo is not opposing ANYTHING that brings value to its stockholders, including a purchase by Microsoft. Although, if Microsoft buys Yahoo, it will probably be a big blow for Open-Source software since much of Yahoo’s platform is open source and Microsoft wants the whole world to only use it’s clunky software.