The Yahoo - Microsoft Search Deal Story
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The Yahoo - Microsoft Search Deal Story

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The Curiously Fascinating Story of the Yahoo - Microsoft Search Deal ...

The Curiously Fascinating Story of the Yahoo - Microsoft Search Deal

The Yahoo - Microsoft search deal signed on July 29, 2009 was a long time in the making.

In fact, it is a curious tale of wrangling and even a little drama. Read the tale of offers, counter-offers, threats, revolts, departures, and eventual dealmaking in this fascinating story of business.

As seen on this page:
http://focusedmarketer.com/yahoo-microsoft-search-deal-story

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The Yahoo - Microsoft Search Deal Story Presentation Transcript

  • 1. The Curiously FascinatingSTORYof theYahoo – MicrosoftSearch Deal
    Compiled by:
    Helen M. Overland
  • 2. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    The story you are about to read is a matter of public record.
    No matter how fascinating or amusing this story seems to get at times, remember it is recorded in the annals of public history.
    Enjoy!
    FocusedMarketer.com
    August 3, 2009
  • 3. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    We will begin our story in early 2008, skipping over a couple of years of on-again, mostly off-again corporate foreplay...
    Jan 31, 2008
    Microsoft Proposes Acquisition of Yahoo! for $31 per Share
    http://www.microsoft.com/presspass/press/2008/feb08/02-01CorpNewsPR.mspx
    Feb. 11, 2008
    Yahoo! Board of Directors Says Microsoft's Proposal Substantially Undervalues Yahoo!
    http://yhoo.client.shareholder.com/PRESS/ReleaseDetail.cfm?ReleaseID=293129
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy AMagill
    Timeline
  • 4. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Feb. 11, 2008
    Microsoft responds: “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!’s shareholders are provided with the opportunity to realize the value inherent in our proposal.”
    http://www.microsoft.com/presspass/press/2008/feb08/02-11msft-response.mspx
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy huggybearjon
    Timeline
  • 5. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    February 18
    Rumors emerge of Yahoo being in talks with AOL
    http://news.bbc.co.uk/2/hi/business/7249277.stm
     
    March 11
    News Corp says it will not fight Microsoft for Yahoo: "We're not going to get into a fight with Microsoft, which has a lot more money than us," Murdoch told investors at the annual Bear Stearns media conference.
    http://www.reuters.com/article/mergersNews/idUSWEN440320080310
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy RogueSun Media
    Timeline
  • 6. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    April 5, 2008
    Microsoft Sends Letter to Yahoo! Board of Directors: “If we have not concluded an agreement within the next three weeks, we will be compelled to take our case directly to your shareholders, including the initiation of a proxy contest to elect an alternative slate of directors for the Yahoo! board.”
    http://www.microsoft.com/presspass/press/2008/apr08/04-05LetterPR.mspx
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy e-magic
    Timeline
  • 7. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Apr 07, 2008
    Yahoo responds to Microsoft’s letter: “Our Board's view of your proposal has not changed. We continue to believe that your proposal is not in the best interests of Yahoo! and our stockholders.”
    http://yhoo.client.shareholder.com/PRESS/releasedetail.cfm?ReleaseID=303369
    April 9, 2008
    Yahoo announces they will start testing Google ads in Yahoo’s search results.
    http://yhoo.client.shareholder.com/press/releasedetail.cfm?ReleaseID=303999
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy Ella's Dad
    Timeline
  • 8. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Apr 30, 2008
    The Wall Street Journal reports that “Microsoft this week indicated a willingness to raise its bid to as much as $33 per Yahoo share,”
    http://online.wsj.com/article/SB120958473573757167.html?mod=technology_main_whats_news
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy si_si_ay
    Timeline
  • 9. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    May 3, 2008
    Microsoft Withdraws Proposal to Acquire Yahoo! in a letter to Jerry Yang
    http://www.microsoft.com/presspass/press/2008/may08/05-03letter.mspx
     
    May 3, 2008
    Yahoo responds: “With the distraction of Microsoft's unsolicited proposal now behind us, we will be able to focus all of our energies on executing the most important transition in our history so that we can maximize our potential to the benefit of our shareholders, employees, partners and users.”
    http://yhoo.client.shareholder.com/press/releasedetail.cfm?ReleaseID=308131
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy The Wolf
    Timeline
  • 10. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    May 15, 2008
    Billionaire investor Carl Icahn writes letter to Yahoo that "I believe that a combination between Microsoft and Yahoo is by far the most sensible path for both companies", and has purchased $1.3B in Yahoo stock
    http://www.usatoday.com/money/topstories/2008-05-15-729493711_x.htm
     
    May 15, 2008
    Yahoo responds “Conversely, we do not believe it is in the best interests of Yahoo! stockholders to allow you and your hand-picked nominees to take control of Yahoo! for the express purpose of trying to force a sale of Yahoo! to a formerly interested buyer who has publicly stated that they have moved on.”
    http://yhoo.client.shareholder.com/press/releasedetail.cfm?ReleaseID=310754
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy Tambako the Jaguar
    Timeline
  • 11. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    May 18, 2008
    Microsoft and Yahoo back in talks.
    http://www.microsoft.com/presspass/press/2008/may08/05-18statement.mspx
     
    May 21, 2008
    T. Boone Pickens Picks Up 10 Million Yahoo Shares. There is some discussion that this is done in the hopes that Carl Icahn can work some kind of deal
    http://www.cbsnews.com/stories/2008/05/20/paidcontent/main4110359.shtml?source=search_story
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy hans s
    Timeline
  • 12. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    June 2, 2008
    Carl Icahn cleared to invest another $1.5bn in Yahoo
    http://www.guardian.co.uk/media/2008/jun/02/yahoo.mediabusiness
     
    June 3, 2009
    Lawsuit filed against Yahoo for handling of Microsoft bid
    http://www.businessweek.com/the_thread/techbeat/archives/2008/06/judge_unseals_y.html?chan=top+news_top+news+index_technology
     
    June 3, 2008
    Carl Icahn is reported to be seeking ousting of Jerry Yang as Yahoo CEO
    http://news.cnet.com/8301-10784_3-9958744-7.html
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy Tambako the Jaguar
    Timeline
  • 13. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    June 12, 2008
    Yahoo and Google announce agreement for Yahoo to display Google ads.
    http://yhoo.client.shareholder.com/press/releasedetail.cfm?ReleaseID=316450
    http://www.google.com/yahoogooglefacts/
     
    June 12, 2008
    Microsoft responds “As stated on May 3rd and reiterated on May 18th Microsoft was not interested in rebidding for all of Yahoo!. Our alternative transaction remains available for discussion.”
    http://www.microsoft.com/presspass/press/2008/jun08/06-12statement.mspx
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy e-magic
    Timeline
  • 14. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Jul 7, 2008
    Microsoft and Carl Icahn appear to be in discussions about a deal with Yahoo.
    http://www.microsoft.com/presspass/press/2008/jul08/07-07statement.mspx
     
    Jul 7, 2008
    Yahoo responds: “If Microsoft and Mr. Ballmer really want to purchase Yahoo!, we again invite them to make a proposal immediately. And if Mr. Icahn has an actual plan for Yahoo! beyond hoping that Microsoft might actually consummate a deal which they have repeatedly walked away from, we would be very interested in hearing it.”
    http://yhoo.client.shareholder.com/press/releasedetail.cfm?ReleaseID=319847
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy Tambako the Jaguar
    Timeline
  • 15. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Jul 12, 2008
    Yahoo rejects a joint Microsoft/Icahn offer
    http://yhoo.client.shareholder.com/press/releasedetail.cfm?ReleaseID=321697
     
    July 14, 2008
    Carl Icahn responds “I have yet to see a company distort, omit and twist events and facts in the manner that Yahoo! has done”
    http://www.nytimes.com/2008/07/14/business/worldbusiness/14iht-yahoo.4.14486514.html
     
    July 14, 2008
    Microsoft responds “the enhanced proposal… we submitted late Friday was submitted at the request of Yahoo! Chairman Roy Bostock”
    http://www.microsoft.com/Presspass/press/2008/jul08/07-14statement.mspx
    FocusedMarketer.com
    August 3, 2009
    Timeline
  • 16. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    July 29, 2008
    T. Boone Pickens sells his Yahoo shares at a loss. Is quoted as saying “I think that Yahoo management was pathetic” (editors note: don’t worry, he’s still quite well off)
    http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/28/BUS6120SSI.DTL
     
    October 14, 2008
    Google & Yahoo in talks with DOJ to avoid possible antitrust challenge
    http://online.wsj.com/article/SB122393254528030085.html?mod=testMod
     
    Oct 20, 2008
    Yahoo is reported to be planning cuts, possibly over 1000 people
    http://online.wsj.com/article/SB122445684738348449.html
    FocusedMarketer.com
    August 3, 2009
    Timeline
  • 17. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Nov 5, 2008
    Citing regulator concerns, Google terminates its ad agreement with Yahoo
    http://yhoo.client.shareholder.com/PRESS/releasedetail.cfm?ReleaseID=345734
    http://googlepublicpolicy.blogspot.com/2008/11/ending-our-agreement-with-yahoo.html
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy Mikelo
    Timeline
  • 18. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Nov 6, 2008
    Yahoo CEO Jerry Yang quoted as saying “To this day the best thing for Microsoft to do is buy Yahoo.”
    http://searchengineland.com/yahoo-invites-another-bid-from-microsoft-15383
    FocusedMarketer.com
    August 3, 2009
    Timeline
  • 19. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Nov 7, 2008
    Microsoft to Jerry Yang: No.
    Well actually: “We are not interested in going back and re-looking at an acquisition. I don't know why they would be either, frankly”
    http://www.reuters.com/article/mergersNews/idUSSYD41512320081107
    FocusedMarketer.com
    August 3, 2009
    Timeline
  • 20. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Nov 17, 2008
    Jerry Yang steps down as Yahoo CEO
    http://yhoo.client.shareholder.com/press/releasedetail.cfm?ReleaseID=348088
     
    Nov 19, 2008
    Microsoft “done with all acquisition discussions with Yahoo”, but still open to “search collaboration”
    http://blog.seattlepi.com/microsoft/archives/154844.asp
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy Yodel Anecdotal
    Timeline
  • 21. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Dec. 4, 2008
    Microsoft appoints Dr. Qi Lu, former VP of Engineering for the Search and Advertising Technology Group at Yahoo!, as Microsoft president of Online Services Group
    http://www.microsoft.com/Presspass/press/2008/dec08/12-04CorpDec4PR.mspx
    FocusedMarketer.com
    August 3, 2009
    Timeline
  • 22. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Jan 13, 2009
    Carol Bartz becomes Yahoo’s new CEO
    http://yhoo.client.shareholder.com/PRESS/releasedetail.cfm?ReleaseID=359016
     
    January 16, 2009
    Microsoft and Yahoo Executives Meet. Again.
    http://www.nytimes.com/2009/01/17/technology/companies/17yahoo.html
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy Yodel Anecdotal
    Timeline
  • 23. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Apr 10, 2009
    Still Talking.
    http://kara.allthingsd.com/20090410/yahoos-bartz-and-microsofts-ballmer-finally-talking-about-search-and-advertising-partnership/
     
    May 28, 2009
    Microsoft search engine Bing launches
    http://www.microsoft.com/presspass/press/2009/may09/05-28NewSearchPR.mspx
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy bpedro
    Timeline
  • 24. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Jul 23, 2009
    Yahoo Board meets about possible Microsoft deal
    http://blogs.barrons.com/techtraderdaily/2009/07/23/wsj-yahoo-board-meeting-today-about-microsoft-deal/
    Then, Finally...
    FocusedMarketer.com
    August 3, 2009
    Timeline
  • 25. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    Jul 29, 2009
    Yahoo! and Microsoft announce an agreement.
    http://www.choicevalueinnovation.com/thedeal/announcement/Default.aspx
    FocusedMarketer.com
    August 3, 2009
    Photo courtesy Yodel Anecdotal
    Timeline
  • 26. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    A Few Interesting Highlights of the Deal
    The Yahoo Search engine goes away (as in “bye-bye”)
    The Microsoft Bing search engine will be used on Yahoo
    Microsoft gets access to Yahoo’s search technology for 10 years
    Microsoft will pay traffic acquisition costs to Yahoo! at an initial rate of 88% of search revenue generated on Yahoo!'s sites for the first 5 years
    The deal affects only search engines, not email or news, for example
    FocusedMarketer.com
    August 3, 2009
  • 27. The Curiously Fascinating STORY of theYahoo - Microsoft Search Deal
    That’s it, thanks for reading!
    Compiled by:
    Helen M. Overland(a.k.a. semlady)
    FocusedMarketer.com
    Follow me! twitter.com/semlady
    FocusedMarketer.com
    August 3, 2009