Microsoft finally said no to it proposal to acquire Yahoo !

We all remember that few months back Microsoft made a proposal to acquire internet Giant Yahoo.
It was discussed here --> Microsoft bid to acquire Yahoo

But finally Microsoft said no to the bid because they think Yahoo is not that much worthy for which Yahoo asked for.
Here is the complete new from ndtv.com site:

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Software giant Microsoft has abandoned its three-month old bid to buy Yahoo after the two failed to agree on acceptable price and it concluded a hostile bid was ''not sensible.''

Microsoft had earlier offered USD 47.5 billion which translated into USD 33 per share but Yahoo wanted USD 57 billion or USD 37 a share. Originally, the software giant had offered USD 44.6 billion or USD 31 a share but raised the offer as the negotiations proceeded.

Microsoft announced its decision to withdraw after talks between its Chief Executive Steven A Ballmer and Yahoo co-founder Jerry Yang in Seattle last morning failed to produce an agreement.

Microsoft had made an unsolicited bid to buy Yahoo so as to compete with Google search engine.
Ballmer in a letter to Yang pointed out that Microsoft had already raised its bid by about USD 5 billion and despite its best efforts, Yahoo has not ''moved towards accepting our offer.''

''After careful consideration, we believe the economics demanded by Yahoo! do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal,'' said Ballmer.

''Our discussions with you have led us to conclude that, in the interim, you would take steps that would make Yahoo undesirable as an acquisition for Microsoft,'' he wrote.

''We continue to believe that our proposed acquisition made sense for Microsoft, Yahoo and the market as a whole,'' Ballmer said in the letter posted on the Microsoft website.

No immediate comment was available from Yahoo. In a statement, Ballmer expressed confidence that Microsoft move towards its goal to pursue its online efforts on its own.

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It has become a fashion for the media to react more for these kinds of news .In my opinion it will only help the secondary share-marketing people more. The brokers will earn irrespective of the fall or rise in share prices. The real affected people are the real stakeholders.
But where is the international controller for the MRP - Monopoly Restrictive Practices. Any monopoly will only harm the customers. Under this liberalized economic system there seems to be no mechanism to restrict these kinds of anti-consumer practices.

I remember a book titled 'The Chairman is the God' written in the sixties which has predicted that in the longer run, the Chairmen of the MNCs will only rule the world.

And there will be only three brands in every product after acquisitions, mergers & closures. The Chairmen of the MNCs will control the world and the respective Ruling Governments also. I think we are moving in those directions only.

Right in that spirits we can find mergers and acquitions in Automotive and Television Brands. In Olympics there are only Gold, Silver & Bronze medals. Like the same way there will be only Three Brands in every field over a period of time with the Best, Better & Good ones internationally. And for any locals there will be local brands, which we can say, belong to the conciliation prizes in local competitions.

Once monopoly is established in Economic Scenario, customers /consumers will definitely be exploited. The same monopoly in political power only led to earlier world wars. We are going to see Economic Wars between MNCs and Nations.

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Originally Posted by erksar

The Chairmen of the MNCs will control the world and the respective Ruling Governments also. I think we are moving in those directions only.

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Well.. already this is truth, there were many decision in past by Govt. to give indirect help to those big business houses.
Anyhow, this is really time to think about it as big is getting bigger and bigger than one can ever thought. Uptill now its good to certain extent but soon going to take bad shape.

Nice point you share erksar !

thanks for sharing