Microsoft Continues Yahoo Waiting Game
Despite widespread belief Microsoft would increase its unsolicited bid for Yahoo, the company continues to stand pat on a $31 per share offer.
Technology icon Bill Gates won’t step into a greater role with his philanthropic foundation until June. He has time to discuss Microsoft’s offer for Yahoo, which Yahoo rejected as undervaluing the company.
Gates said Microsoft will pour more money into building market share in the search industry. A Reuters report said Gates thinks a Yahoo buy gets Microsoft there faster:
“We can afford to make big investments in the engineering and marketing that needs to get done. We will do that with or without Yahoo,” said Gates in an interview with Reuters.
“But we also see that we’d get there faster if the great engineering work that Yahoo has done and the great engineers there were part of the common effort,” said Gates, who is Microsoft’s biggest shareholder.
Public activity on the Microsoft-Yahoo deal since its announcement remains relatively quiet. Other than a series of letters to Yahoo staffers from CEO Jerry Yang that were made public via SEC filings, and Microsoft CEO Steve Ballmer discussing the overture in the media, speculation has yet to lead to a higher per-share bid.