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Yahoo Still Undecided

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Yahoo Still Undecided

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Yesterday, Yahoo CEO Jerry Yang sent out his second company-wide e-mail since Microsoft made its unsolicited $44.5 billion bid for Yahoo, a message that made it into an SEC filing this morning.

Yang said the same thing he said before: “No decisions have been made about Microsoft’s proposal.”

“The board, he said, “is focused on maximizing the value of Yahoo!’s tremendous assets for our shareholders. And it is going to take the time it needs to do it right.”

Clinging to the pre-tsumani past of six days ago, he said, “We won’t let it distract us from pursuing our transformation strategy.”

He also said that “The board is thoughtfully evaluating a wide range of potential strategic alternatives in what is a complex and evolving landscape and we’ve hired top advisors to assist though the process.”

The view may very well be different from inside but from outside Yahoo looks to have a narrowing range of options. In fact, not many at all.

News Corp. CEO Rupert Murdoch, who knows a thing or two about hostile takeovers and last year proposed merging his MySpace property with Yahoo, told Wall Street Monday that he’s not interested in Yahoo and even less interested in AOL. NBC Universal and Comcast have also professed a lack of interest.

It is also looking increasing unlikely that Google and Yahoo could pull off an outsourcing deal that keeps Yahoo independent because of the antitrust laws.

Yahoo’s only option seems to be to hold Microsoft up for more money.



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