Yahoo Shareholders React To Failed Microsoft Bid
After biting their nails for most of the weekend, Yahoo shareholders got the bad news Monday. Their shares of stock dropped 15 percent when Microsoft pulled its offer on the table. While disappointing to some, it was business as usual at Orchard Valley Coffee just miles away from the Yahoo campus in Sunnyvale, California. It was also business as usual for Paul Tran, Yahoo user and investor and former high school classmate of CEO Jerry Yang. Tran says he is glad Yahoo is staying independent despite the drop in its stock price. Tran said, "15-20 percent hit, yeah, it hurts your stock portfolio, but long term, Yahoo's dedication will help the stockholders." With Microsoft walking away, Yahoo's future is a little more cloudy. Even its current talks with Google are under the internet search monopoly microscope. Rob Enderle of technology analyst, The Enderle Group said, "Google at 70 percent and Yahoo at 17, that gives you 87, if you weren't a monopoly, you suddenly are." But even on a day of uncertainty, Yahoo still has its supporters. "I’m really glad they didn't accept the Microsoft offer, and hopefully they'll still innovate, that's what Silicon Valley is all about," said Tran. Yahoo's challenge now is to prove to those investors that it can still be a challenger in the search space now dominated by Google. |
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