Todd Walton wrote:
Jerry Yang and the board of Yahoo were willing to risk losing the deal
and a tremendous markup on their fortunes. For what?
You think like the "non-rich".
It isn't about the money. It's about the power.
The first thing Microsoft will do to Yang, et al., is apply the boot.
Where are Yang and company likely to end up even *remotely* equivalent
to his position at Yahoo--answer: nowhere.
And, to be fair, the Microsoft deal was a *REALLY* good deal for most
common shareholders. Take a look at the stock. You have only 2005
where it got to the Microsoft offer level. Before that, you have to go
the whole way back to 2000. 37 would have been optimistic in
2005--today it's delusional. Yang chose a painful point to torpedo the
deal in the hopes that Microsoft would walk.
The only people the deal really wasn't good for were the people running
Yahoo.
I'm no fan of Icahn, but the money had nothing to do with Yang's decision.
-a
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