Jerry Yang, of Los Altos, CA is 38 years old, worth $1.9 billion (according to Forbes) and is the 261st richest person in the United States of America.
This weekend he has told both Microsoft and his own shareholders to "get lost!!!"
As the whole world now knows, Microsoft has abandoned the Yahoo bid after sides can't agree on acceptable sales price
SEATTLE (AP) -- Microsoft says it's dropping its three-month-old bid to buy Yahoo because the two sides can't agree on an acceptable sale price.
Microsoft Chief Executive Steve Ballmer says in a letter sent to Yahoo on Saturday that the software maker was willing to pay $47.5 billion for Yahoo. That's $33 per share.
Ballmer says Yahoo insisted that Microsoft pay at least $53 billion. That's $37 per share.
We, think this is absolutely insane. Jerry Yang is taking an anti-capitalistic, anti-shareholder approach to this proposed buyout. He clearly believes in a eastern Asian philosophy that corporations are made for its employees, not the shareholders. This is very anti-Think Billion$ as well, since Jerry clearly believes that he should be the billionaire and not anybody else. Good luck Jerr. Good luck in managing investor lawsuits in the upcoming months.
Yahoo CEO Jerry Yang on hot seat after rebuffing Microsoft's $47.5 ...
By MICHAEL LIEDTKE , AP SAN FRANCISCO - Yahoo Inc. Chief Executive Jerry Yang has gotten what he wanted:
