Microsoft still believes they will take over Yahoo.
by Alan Harten
On Friday executives at Microsoft forwarded an upbeat worded e-mail to outline the company’s version of how it expects to complete the league take over Yahoo, and then merge the two companies’ resources and cultures.
Microsoft’s offer for Yahoo, which exceeded $44 billion, two weeks ago, was rejected. And Microsoft is said to be planning for a hostile takeover if Yahoo does not make a U-turn on its decision.
In the email sent to all employees of Microsoft platform and services division, its president Kevin Johnson stated the company had: “a perspective of the process going forward.” And that, “We look forward to a constructive dialogue with Yahoo’s board, management, shareholders, and employees on the value of this combination and its strategic and financial merits,”
He also said firmly, “Once Yahoo and Microsoft agree on a transaction, we can begin the integration planning process in parallel with the regulatory review.”
If Yahoo gives in to Microsoft’s pressure, Johnson believes that the deal will be completed before the end of the year.
It is hard to believe that this e-mail did not have the approval of Microsoft boss’s. And this, in actual fact, is a duplicate of tactics used by Yahoo chief executive Jerry Yang. Who previously sent messages to employees and stockholders, asking them to have continued faith in the company.
On the same day, pension funds held in the name of City of Detroit workers, filed a civil suit against Yahoo, claiming the company had betrayed his duty to stockholders, by refusing Microsoft’s offer.
Other Yahoo stockholders based in California are already in legal action with Yahoo over it not accepting an offer made last year by Microsoft to buy up Yahoo.
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