Contentinople - Eve Bergazyn - News Bits: Yahoo Still Says 'No'

Written by Eve Bergazyn

Monday, July 14. 2008 at 11:40 AM EDT Post a comment

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After more than two months of Microsoft-Yahoo maneuvering, the two companies may just have to go their separate ways. Microsoft Corp. (Nasdaq: MSFT) presented its latest offer, orchestrated by Carl Icahn, on Friday night, which Yahoo Inc. (Nasdaq: YHOO) promptly rejected, reports The Wall Street Journal.

Details, according to WSJ, included the sale of Yahoo's search business to Microsoft for $1 billion plus a guaranteed annual payment of $2.3 billion for five years, the purchase of $3.9 billion of Yahoo shares, and $2.8 billion of Yahoo's debt.

Oh, and a whole new board.

Included in the deal was a 24-hour-deadline, which Yahoo chair Roy Bostock apparently tried to push back, according to The New York Times. After a reported five hours of deliberation, the board unsurprisingly rejected the offer, sticking to $33 a share or bust.

The annual shareholders' meeting is set for Aug. 1, where the future of Yahoo will really be determined. We'll be waiting (and speculating) until then.

In other news:

Not just for early adopters, the 3G iPhone makes it into 1 million hands by Sunday, according to an Apple Inc. (Nasdaq: AAPL) press release. This, despite activation server crashes on Friday.

And NBC Universal has so far been unable to reach its $1 billion advertising goal for the Beijing Olympics, reports Variety. With roughly 15 percent of its advertising slots still available, the network may be forced to lower the prices on its rate card, perhaps a result of U.S. advertisers getting spooked by the reported harassment of a foreign news crew just outside of China's capital.

Tags: Acquistions, Apple, Business, Microsoft, NBC, Search, Yahoo

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