Microsoft has refused from Yahoo

Yesterday Yahoo! Has fallen in price almost on 20 %. So investors have reacted to failure Microsoft of purchase of this company for $44,6 billion

Now shareholders Yahoo! Require resolute actions of its management

Failure Microsoft of absorption Yahoo became the decrease reason!. General director Microsoft Steve Ballmer has notified on it on Saturday the head of Internet company Dzherri Young.

In the end of January Microsoft has suggested to acquire Yahoo! At the price of $31 for the share, having evaluated all company in $4,6 billion Award in comparison with then share price made an order of 70 %. Board of directors Yahoo! Has rejected this offer, having considered the price low. Recently Microsoft has agreed to raise the offer to $33 for the share, but board of directors Yahoo! Insisted on the price not less than $37 for the share. It is so much to pay Microsoft it has appeared it is not ready.

Now Young should answer the disappointed shareholders considering, that management Yahoo! It should is better to protect interests of investors. On Sunday Bill Miller, the manager of investment company Legg Mason possessing of 6 % of shares Yahoo!, has urged the Internet company to organise immediately the repayment of shares at investors. According to Miller, Yahoo! Should purchase a package a minimum of $4 mlrd to demonstrate reliance of value of own shares. "They had very tempting possibility, but as a result of actions of both parties it has been missed, — Miller is distressed. — chiefs Yahoo! Have appeared in very difficult position, it is necessary for them to prove, that they indeed can lift share price to level of $37".

However, mainly Miller blames Microsoft which has refused to pay more expensively and as a result "remains on the third place [among the Internet companies], far lagging behind from leaders". Purchase Yahoo! Was "very important strategic possibility, and the price of a question for Microsoft made only 2 % of its capitalisation, — the investor argues. — to Refuse such possibility it is unreasonable".

Other experts believe, that Microsoft has taken a hard line, expecting, that the Internet company management will concede to pressure of its shareholders. Meanwhile management Yahoo! Tries to present a situation as good possibility for continuation of development of business. In particular, has informed FT an informed circle, the company plans to make active negotiations on cooperation with Google and AOL, the "Sheet" newspaper informs.