Another minor twist in the Yahoo tale

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23 July 2008

It’s the biggest story of the year…maybe. And it could change the way we use the net forever…possibly. It’s the story of how the Web’s biggest search engine saw its stocks tumble and ended up in the clutches of a billionnaire currency speculator and the world’s largest software company…probably. Whatever it is, it’s been going on since January, there’s only so much of this a body can take of this corporate chess.

It’s not that the great Yahoo takeover story is boring per se. No corporate takeover of this magnitude is without its twists and turns, and the entry of Carl Icahn to the fray is something I don’t think any pundit saw coming. But do we really need seven months of back and forward between the present board and it’s would-be replacements?

Anyone who listens to our podcasts will no the increasing frustration I have with this story. It seems every week something just small enough to have to report comes around, then is shot down. Yahoo down, Microsoft want in. Then Icahn wants in. Then Yahoo says no. Microsoft ‘calls it quits’ (yeah right). Ichan makes his play. Yahoo still say no.

Back and forth it goes. As I write this Yahoo’s share price is dangling at $21 – half the price they should be. Doubtless another move will be made and I’ll have to talk abotu that as well. What’s the best nothing will happen?

Come on, it’s been 7 months. Put us out of our misery!

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