2/12/2008
Yahoo! rejected a $44.6 billion bid
Yahoo! Inc., the Internet Company that rejected a $44.6 billion bid from Microsoft Corp., may find that a so-called poison pill in its bylaws isn't enough to defend against a hostile takeover.
Yahoo officially rejected Microsoft’s takeover offer on Monday, calling it too low, Microsoft described Yahoo’s response as “unfortunate” and said its own proposal was “full and fair.”
Microsoft’s statement suggests that, at least for now, the company is not willing to raise its price. Microsoft also indicated anew that it was ready for a fight, repeating earlier statements that it might consider “all necessary steps” to ensure the deal is completed.
Experts now claim that Google could form an alliance with Yahoo; however, the latter insists that the board is still in the process of evaluating all its strategic options. On the other hand, Microsoft is still contemplating whether to sweeten their offer launch a proxy fight or simply withdraw. It is clear that the battle of tech titan is far from over.
Goldman, Sachs & Co., Lehman Brothers and Moelis & Company are Yahoo's financial advisers, while Skadden, Arps, Slate, Meagher & Flom LLP are Yahoo's legal advisers. Further, Munger Tolles & Olson LLP is counsel to the outside directors of Yahoo!. With such a wide array of advisors, Yahoo is likely to take a right decision.
Experts said Microsoft could ratchet up pressure on Yahoo’s board by taking its offer directly to shareholders and waging a proxy fight to oust Yahoo’s directors; it has until March 13 to nominate a new slate of directors.
Earlier in the day Yahoo said Microsoft’s bid “substantially undervalues Yahoo including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments.”
Yahoo said its board would “continue evaluating all of its strategic options.”
Microsoft initially offered to buy Yahoo for $44.6 billion, or $31 a share, in a mix of cash and stock. After a decline in Microsoft’s shares, the value of the offer now stands at less than $29 a share.
Yahoo’s board has explored other alternatives, including a search advertising partnership with Google, but has not received any competing acquisition offers, according to people briefed on its situation.
Absent such an offer or a deal that could persuade investors that Yahoo shares will go up significantly, the company’s best bargaining chip was the prospect of a friendly deal at a higher price, said Michael Klausner, a Stanford Law School professor who specializes in corporate law and corporate governance.
“Microsoft would much prefer a friendly deal, because it wants to retain good relationships with Yahoo executives and retain employees,” he said.
One Yahoo shareholder said the Microsoft and Yahoo statements represented the early stages of an expected negotiation.
“I think Microsoft has made it pretty clear that they are not about to back off here,” said Ryan Jacob, portfolio manager for the Jacob Internet Fund, which counts Yahoo among its top holdings. Mr. Jacob, whose fund has about $60 million in assets, said he favored a combination of Yahoo and Microsoft, as it would create a stronger competitor to Google. But he defended Yahoo’s initial rejection, saying the board was right to hold out for a higher offer.
Microsoft suggested that Yahoo shareholders it had polled viewed the deal favorably. “Based on conversations with stakeholders of both companies, we are confident that moving forward promptly to consummate a transaction is in the best interests of all parties,” Microsoft said. Many Yahoo shareholders are also Microsoft shareholders and might not necessarily favor a higher offer.
In a letter to employees explaining the company’s position on Monday, Jerry Yang, Yahoo’s chief executive, said they deserved credit for Yahoo’s success.
But some Yahoo employees will soon find out that their work is no longer needed. The company said last month that it would lay off about 1,000 employees by mid-February, though some would be allowed to apply for other jobs in the company. A person close to Yahoo said the layoffs could be announced as early as Tuesday.
2/10/2008
Nicole Kidman and her pregnancy
ACTRESS Nicole Kidman has revealed she is pregnant, reportedly withdrawing from a film project to protect her unborn child.
Less than 18 months into her marriage to country singer Keith Urban, the 40-year-old confirmed the long-rumored pregnancy through her publicist Wendy Day.
The Oscar-winning actress and Keith Urban, the country and western singer she calls the "love of my life", broke the news to their families over the Christmas holiday.
Kidman, 40, has struggled for years to fall pregnant.
The baby, whose expected arrival date has not yet been revealed, will be the actress's first natural child.
During their 10-year union, Kidman and Cruise adopted two children, daughter Isabella, now 14, and son Connor, 12.
The children live with Cruise and his new wife, actress Katie Holmes.
Kidman has said she had an ectopic pregnancy at the beginning of her marriage to Cruise and suffered a miscarriage at the time the couple split. .
Kidman proudly showed off her pregnancy to friends last week, allowing them to feel her stomach in public.
She has made no secret of her hopes for more children, saying: ``Keith and I would really love to have a big family.
"But I'm so happy at the moment, I couldn't ask for anything more.''
With the baby due in June, the health-conscious Hollywood star is determined to keep fit, but she is looking forward to her bust expanding.
"Being pregnant, I'll have bigger boobs," she said recently.
"That's one of the many good things I can think of that will come of it."
Kidman was tight-lipped when it came to the gender of the baby, only to say: "It's a secret".
Less than 18 months into her marriage to country singer Keith Urban, the 40-year-old confirmed the long-rumored pregnancy through her publicist Wendy Day.
The Oscar-winning actress and Keith Urban, the country and western singer she calls the "love of my life", broke the news to their families over the Christmas holiday.
Kidman, 40, has struggled for years to fall pregnant.
The baby, whose expected arrival date has not yet been revealed, will be the actress's first natural child.
During their 10-year union, Kidman and Cruise adopted two children, daughter Isabella, now 14, and son Connor, 12.
The children live with Cruise and his new wife, actress Katie Holmes.
Kidman has said she had an ectopic pregnancy at the beginning of her marriage to Cruise and suffered a miscarriage at the time the couple split. .
Kidman proudly showed off her pregnancy to friends last week, allowing them to feel her stomach in public.
She has made no secret of her hopes for more children, saying: ``Keith and I would really love to have a big family.
"But I'm so happy at the moment, I couldn't ask for anything more.''
With the baby due in June, the health-conscious Hollywood star is determined to keep fit, but she is looking forward to her bust expanding.
"Being pregnant, I'll have bigger boobs," she said recently.
"That's one of the many good things I can think of that will come of it."
Kidman was tight-lipped when it came to the gender of the baby, only to say: "It's a secret".
2/09/2008
Threat of "Bird flu"
A big fear among health officials is that the bird flu will acquire the ability to jump easily between humans, leading to a pandemic and millions of deaths .In 1957 Robert G. (Rob) Webster (born May 7, 1932)(avian influenza expert)was the first to announce a link between human flu and bird flu.
What is Bird flu?
"Bird flu" is a phrase similar to "Swine flu", "Dog flu", "Horse flu", or "Human flu" in that it refers to an illness caused by any of many different strains of influenza viruses that have adapted to a specific host. All known viruses that cause influenza in birds belong to the species: Influenza A virus. All subtypes (but not all strains of all subtypes) of Influenza A virus are adapted to birds, which is why for many purposes avian flu virus is the Influenza A virus (note that the "A" does not stand for "avian").
Influenza virus A is a genus of the Orthomyxoviridae family of viruses. Influenza virus A includes only one species: influenza A virus which causes influenza in birds, humans, pigs, and horses.
What is human flu?
Human flu refers to a subset of Orthomyxoviridae that create influenza in humans and are endemic in humans. This is not a phylogenetics based taxonomic category.The species of Orthomyxoviridae that can cause flu in humans are Influenza A virus, Influenza B virus and Influenza C virus but not all genotypes of these three species infect humans.
Outbreak:
The global spread of highly pathogenic H5N1 in birds is considered a significant pandemic threat. While other H5N1 strains are known, they are significantly different from a current, highly pathogenic H5N1 strain on a genetic level, making the global spread of this new strain unprecedented. The H5N1 strain is a fast-mutating, highly pathogenic avian influenza virus (HPAI) found in multiple bird species. It is both epizootic (an epidemic in non-humans) and panzootic (a disease affecting animals of many species especially over a wide area).
Bird Flu Transmission:
• Direct contact with secretions from infected birds, excretion especially feces
• Contaminated feed, water, equipment and clothing
• Clinically normal waterfowl and sea birds may introduce the virus into flocks
• Broken contaminated eggs may infect chicks in the incubator
Sources of Virus
• Feces, respiratory secretions
• Highly pathogenic viruses may remain viable for long period of time in infected feces, tissues and water
2/06/2008
Widgets 4.5
Yahoo download option gives you new Widgets 4.5 which cans updates of your favorite info and services.
Bring all the things you love right to your Windows or Mac desktop. Keep up with your favorite TV shows, search for gifts, or plan your next vacation, all using Yahoo! Widgets on your desktop. Choose from over 4,000 desktop Widgets including weather, games, shopping, travel planning, sports scoreboards, TV and movie shows, stock tickers and more!
7/23/2007
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