Despite numerous assertions from both companies that they've "moved on," and even a statement from Bill Gates indicating a Yahoo! deal is unlikely, it appears Microsoft continues to pursue Yahoo!, somewhat like a spurned suitor pursuing his ex-.
The latest in the continuing soap opera: a report that indicates that Microsoft is in talks with other companies, searching for partners for a new run at Yahoo!.
The Wall Street Journal story (subscription required) says that Microsoft has approached Time-Warner, parent company of AOL, and News Corp. among others. All very ironic, since Yahoo! approached both AOL and News Corp. previously as possible "white knights" after Microsoft's unsolicited takeover bid.
Yahoo!'s stock was up over 7.5%, to $21.74 in morning trading, just a day after dropping below $20 during intraday trading, approaching pre-Microsoft offer levels.
However, those investors scooping up Yahoo! stock probably didn't notice this paragraph (emphasis mine) in the WSJ report:
Some of the people familiar with these talks say they are preliminary and unlikely to result in a deal with Yahoo. Indeed, two weeks ago, Microsoft Chief Executive Steve Ballmer called Yahoo Chairman Roy Bostock to suggest they meet to discuss a new idea involving other partners, according to a person familiar with the matter. The meeting, scheduled for Monday, was subsequently canceled by Microsoft, which Yahoo took as a sign that Mr. Ballmer's efforts to find a partner have so far failed.
They probably haven't been listening to Gates' statements, either.
Or maybe they just did; Yahoo! was as high as $21.90 before dropping to its current price.
Source: By Tech Ex http://technologyexpert.blogspot.com/
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