First Yahoo rejected Microsoft’s bid in a bid to increase the offer bid now Microsoft rejects Yahoo rejection! Is Microsoft the big daddy? Is Yahoo just bidding for a few dollars more to sell itself?
According to Jeff Gamet, Microsoft responded to Yahoo’s take over bid rejection with a rejection of its own on Monday. The Redmond-based company said in a statement that it feels “moving forward promptly to consummate a transaction” will best serve both companies.
Microsoft executives did not say what the company’s next step would be. At this point it could counter with an offer that comes in above the original US$31 a share, or $44.6 billion, offer, or it could try to sway shareholders and move for a hostile takeover.
“The Yahoo response does not change our belief in the strategic and financial merits of our proposal. As we have said previously, Microsoft reserves the right to pursue all necessary steps to ensure that Yahoo!Õs shareholders are provided with the opportunity to realize the value inherent in our proposal,” Microsoft said.
Microsoft presented the Yahoo with an unsolicited buy out offer on February 1 after the Internet search company reported a 23 percent drop in earnings. Yahoo responded on Monday by stating if felt Microsoft was “substantially undervaluing” the company.
Micron Technology, Inc., today announced that it is sampling to customers and major enablers the industry’s fastest 512 megabit (Mb) Mobile DRAM component, designed for the latest feature-rich mobile electronic devices. Mass production is expected in the second quarter of this year. With mobile applications adding increased computing and multimedia functionality, faster and better performing memory becomes paramount for optimizing performance.
Micron’s 512 Mb Mobile DRAM addresses the needs of today’s most advanced mobile devices by delivering maximum clock speeds of up to 200MHz allowing the transfer of 400 Mbs of data per second. This industry-leading speed provides the additional bandwidth necessary to boost the operating capability of mobile applications, including running more functions simultaneously without performance issues or powering high speed video. Read more
Spanco (S) Private Ltd, a subsidiary of Spanco Telesystems & Solutions Ltd which is one of the leading providers of telecom integration and back office services in India, has announced the acquisition of Great IT Private Ltd. Great IT owns exclusive rights to provide complete technology and IT infrastructure to Great Wheel Corporation. Spanco expects to generate revenues of more than $ 200 million in the next 6 to 7 years besides indirect revenues through various other opportunities which will come up in the similar segment and in the countries of operation. Spanco will invest around $ 40 million in the next 2 years. Read more
Symantec (NASDAQ: SYMC) today announced that HDFC Bank, India’s leading global bank has entered into a US$7.4 million, three-year strategic Enterprise Level Agreement with Symantec for IT compliance, enterprise security and storage management solutions. Symantec will also provide HDFC Bank with consulting and implementation services.
“HDFC Bank has been working with Symantec for several years and has confidence in the company as a trusted partner,” said CN Ram, head, information technology, HDFC Bank. “HDFC Bank entered into this deal with Symantec to further enhance the bank’s security posture, ensure our data is protected and available and help facilitate our compliance and corporate governance programs to increase customer confidence.” Read more
