Reuters report Yahoo CEO open to more Microsoft talks

Source: Technology Exec

Date :06/05/2008 09:35:40

Yahoo Inc. chief Jerry Yang (pictured) has signaled a more open stance towards Microsoft Corp., saying he had been seeking “common ground” when the software maker abruptly ended deal talks.

Mr. Yang, a leading force in the Internet media industry who has been instrumental in building Yahoo! into the world's most highly trafficked Web site and one of the world's most recognized brands, told Reuters in an interview that he had “mixed feelings” about the weekend outcome, after investors showed their disappointment over the break-up of negotiations by sending Yahoo shares down 15 percent.

“We were negotiating a way to find common ground and then on Saturday they chose to walk away,” the 39-year-old co-founder of the pioneering Internet company said.

More than willing

Asked by Reuters if Yahoo would still leave a door open for Microsoft to return, Mr. Yang said: “If they have anything new to say, we would be open. ... I am more than willing to listen.”

After three months of negotiations, Microsoft CEO Steve Ballmer raised his offer for Yahoo to $33 per share from an initial $31, for a total deal value of about $47.5 billion.

Mr. Yang held out for $37 per share, saying that even the sweetened offer did not value Yahoo properly for its Web search advertising technology, its lucrative overseas holdings and its prominence in selling display ads.

It is reported Yahoo’s two largest shareholders would have sold for as little as $34.

May 6, 2008