Yahoo in a “world of hurt”
Roger Ehrenberg’s post at Seeking Alpha provides an excellent read on Yahoo’s strategic choice to decline Microsoft’s offer, claiming that Yahoo’s strategy will backfire.
An excerpt:
“Once you tell a supremely-funded, laser-focused acquiror to take a hike, you have put yourself in a world of fiduciary and PR hurt. Microsoft will wage a proxy fight and will win, because the threat of them backing away will cause the stock to drop $5 - easy.”
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