Raise Sink the Yangtanic
To this day, I believe the best thing for Microsoft to do is to buy Yahoo.”
Shares of Yahoo are slipping deep into the mud today after Microsoft CEO Steve Ballmer very publicly dismissed suggestions that the company might “revisit a possible acquisition” of the much diminished Internet portal. Yahoo (YHOO) is trading at well below $12–$11.86–as I write this, having plummeted nearly 15 percent on Ballmer’s remarks.
What an ugly, ugly day for Yahoo and its leadership. At $11.86, the company is, once again, trading at well below replacement value. And to think, Yahoo CEO Jerry Yang once claimed Microsoft’s (MSFT) $31-per-share offer for his company “massively undervalued” it.
To this day, I believe the best thing for Microsoft to do is to buy Yahoo.
Sure, you say that now Jerry …