As Yahoo''s shares fall, its CEO seems to do a turnabout and says he seeks common ground with Microsoft, stating that if they want to resume talks, we would be open. ... I am more than willing to listen."
After
Microsoft walked away from
Yahoo at the weekend, the search giant’s shares took a bruising, falling $4.30 to $24.37. Big investors who’d wanted to sell at $34 weren’t happy, and Yahoo chief Jerry Yang made placating noises to Microsoft.
According to
Reuters, Yang claimed to have “mixed feelings” about the weekend’s outcome, when Microsoft left the negotiating table.
"We were negotiating a way to find common ground and then on Saturday they chose to walk away," he told the news agency. "They started it and they walked away."
However, at this stage he would appear to be willing to leave the door open for future talking, adding,
"If they have anything new to say, we would be open. ... I am more than willing to listen."
Yang had held out for a $37 per share offer, largely because of its web search ad technology. Although Microsoft was willing to go as high as $33, up from its first bid of $31 per share, they baulked at paying more.
The fallout is likely to rumble for some time. Some analysts believe that the only reason Yahoo’s shares didn’t fall to their pre-Microsoft offer of $19.18 is that investors trust that Microsoft will return to the table. But two massive investors in the company are reportedly upset at Yang, saying they would have sold if the offer had been raised to $34.
The other fly in the ointment would be any ongoing deal with Yahoo and
Google, who tried a two-week marriage on ads. Microsoft’s Steve Ballmer warned Yahoo in a letter over the weekend that any Yahoo-Google would halt any potential deal with Microsoft.
Yesterday Yahoo was holding a meeting with employees.
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