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Microsoft may end up having to raise the amount it is willing to pay for Yahoo if the software company's stock continues to drop while Yahoo's continues to rise.
In the week since Microsoft made its surprise bid for Yahoo, the price Microsoft is willing to offer the Internet company has dropped by nearly 7 percent as Microsoft's share price has fallen. In the meantime, Yahoo's shares have risen in value, trading at nearly the $31 per share Microsoft was willing to pay, making the company potentially worth a higher asking price and the offer vulnerable to higher bids.
Microsoft announced its offer to acquire Yahoo on Feb. 1, saying it would pay $31 for half of Yahoo's outstanding shares and 0.9509 of a Microsoft share for the other half. Microsoft's half-cash/half-stock offer to Yahoo was valued at about $44.6 billion at the time it was made.
The stock half was based on the $32.60 Microsoft share price at the end of Thursday, the day before the deal was announced last Friday. Yahoo's share price at the close of market on Jan. 31 was $19.18. The cash half of the deal was $22.3 billion, which, when considering Microsoft agreed to pay $31 per share, is based on half of Yahoo's outstanding shares being 719,354,838.
Microsoft has not publicly said what number of outstanding shares it has based its offer price on. In its form 10-Q filed Nov. 9, 2007, Yahoo's outstanding shares as of Oct. 31, 2007, were 1,336,444,034. However, cutting that number in half and multiplying it by Microsoft's $31 per-share offer adds up to $20.7 billion, not the $22.3 billion in cash Microsoft is offering.
By Friday afternoon, Microsoft's share price was down about 12 percent at $28.40. Based on that price and assuming that 719,354,838 is the other half of Yahoo's outstanding shares -- and then factoring in the $22.3 billion cash offer -- the amount of the bid stands at $41.7 billion.
Microsoft's stock is likely down due to its offer for a number of reasons, said a financial analyst who was interviewed Friday and asked not to be named. Investors may not be happy with the money Microsoft is willing to pay for Yahoo, and strategic questions surrounding how the companies will pull off a merger successfully also are driving the stock down.
Moreover, the deal is expected to dilute Microsoft's earnings in fiscal 2009 and perhaps even in fiscal 2010, so the company's earnings predictions likely will come down, the analyst said.
On the other hand, Yahoo's stock has been buoyed by speculation there could be other, higher bidders for the company now that Microsoft has shown its hand. Yahoo stock has risen nearly 34 percent since the deal was announced; on Friday afternoon it was trading at nearly $29, which is only slightly lower than the current per-share for the stock half of Microsoft's offer.
Microsoft has declined to comment about whether it will adjust its offer so that the final amount of the deal will be the original $44.6 billion offered. The cash half for the time being remains the same, sources close to the company said Friday. However, this could change in last-minute dealings if Microsoft's stock continues to lose value while Yahoo's rises, and other companies offer competitive bids for Yahoo in the meantime.
Filed under: Gaming
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BOLD MOVES: THE FUTURE OF FORD A new documentary series. Be part of the transformation as it happens in real-time
Office Depot Featured Gadget: Xbox 360 Platinum System Packs the power to bring games to life!
Filed under: Action, Sci-Fi & Fantasy, Box Office, Fandom, 20th Century Fox, Home Entertainment
I think it's safe to say that Avatar has had a prettttty good run so far, but yesterday...yesterday was kismet. It's been breaking records (and hearts) left and right for weeks now, but on February 2nd it toppled its last big obstacle: Titanic's all-time domestic box office record. As of this morning, Avatar has made about $300,000 more than the decade-plus record holder, which is to say it's sitting on approximately $601.2mil at the US box office.
Nintendo and Gamefreak are working on a brand new DS Pokemon RPG due out this year
Nintendo has just announced that there is brand new Pokemon RPG on the way, and itll be out this year. Details are scarce, and no official name or anything else has been announced except for some new Pokemon.
The press release from the Pokemon Company says that the game will be entirely new with more Pokemon than ever before and the game will be entirely reborn and innovative.
Cue Excitement.
What do you want in a new Pokemon RPG? What’s needs to change? What needs to stay? Let us know in the comments.
Shooting 12 hours of Timelapse cinematography in the Niagara Falls winter wonderland, the day after sunning in L.A. for the BSGcast Frak-Party. Distributed by Tubemogul.
Ranked 3.10 / 5 | 300 views | No comments
Click here to watch the video
Submitted By: BSGcast
Tags:
Matt Campagna Brothers New Show Project Niagara Falls Wonder Tour Tourism Ontario
Movie
news is a little slow these days, with the Martin Luther King
holiday and all, so I thought it might be interesting to get ya'lls
opinion on Joaquin Phoenix and his recent decision to quit acting
and pursue a career as a rapper. For anyone who doesn't know what
the f*ck I'm talking about, check out the 3 videos below, the first
of which is him officially...
Read More...
70s PIs – Does the Private Detective matter anymore? They’re not heroes, they’re not helping those in need, the cops are more capable, and they can’t even help themselves. Unlike many of their predecessors, Hickey and Boggs don’t even delude themselves into thinking they are helping society.
Filed under: Culture, Nintendo Wii, Sports
SPONSORED BY: Age of Empires III - Real-Time Strategy Game Control a European power on a quest to colonize and conquer the New World. AOE3 introduces new gameplay elements, as well as new civilizations, units, and technologies. http://www.ageofempires3.com/
Told in three parts by three different directors: a horrific journey towards the discovery that the most brutal violent monster might actually be within all of us.
Runtime: 1 min 43 sec
Unfortunately, this follows right on the heels of a late-night announcement on the BioWare forums. The Return to Ostagar DLC, which was due to come out today for PC and Xbox Live, was delayed at the 11th hour for unknown reasons. "We're sorry but the planned Return to Ostagar downloadable content scheduled to launch on January 5th has been delayed for all platforms," wrote BioWare's Chris Priestly. "We will update you as new information becomes available." Right now BioWare is being extremely vague on the details, but we'll let you know when we hear anything.
A Thai cult film that's a homage to Western films. This is classic.
Runtime: 2 min 25 sec
A perfectly acceptable attempt at comedy about midlife crises and the open road, though the homophobic jokes get a little tiring by, oh let’s see, the first or second scene. John C. McGinley seems to be the go-to guy these days for off-center supporting characters; never mind that he’s kept “Scrubs” tolerable for the last few years—or for that matter, since the show began—or that he was great as the grieving husband-via-mental-manifestation in Identity, he’s now usually stuck in flat, poorly conceived supporting roles written to complement flat, poorly conceived leading roles. Herein he’s a highway patrolman in a tight uniform who comes upon the four main bikers lying together in the woods and then later as they bathe nude in a park pool. It’s funny at first, then just plain uncomfortable, and maybe even a little insulting. It’s even worse when you realize that it’s a blatant rip-off of Gary Busey’s one-scene character in Fear and Loathing in Las Vegas, who was dark and ridiculous without being overly offensive.
Riding the new Peak2Peak Gondola that connects Whistler's Blackcomb and Whistler Mountain summits, over 2.7 miles, must be exhilarating. But jumping off it is just insane.
Shortly after opening, these Two Red Bull sponsored lunatics rode a car to the mid point of the ride and jumped. That makes for a good preview of the fall, should one of these boxes full of 28 people ever fall out of the sky. (I couldn't help thinking of this, I have a decent fear of heights.)
The Gondola itself holds records for its unsupported span of 1.88 miles between the two furthest towers, and for its rise, measuring over a quarter mile above the ground at its highest point.
At 16 miles per hour, it makes the traverse between the mountain tops, in 11 minutes. Contrast that with the usual ski down one peak, plus a drive to the base of the other, plus a number of gondola, chair and tow rides upward, which easily could take over an hour or three.
I've been to Whistler once before, and remember two things: a 45 minute run down blackcomb's glacier to the village, and a Nintendo sponsored park. I guess I have yet another reason to go back.
The wildly popular A Christmas Story gets recut as a shock fest. This could have brought new meaning to "You'll shoot your eye out" (if they had actually used the line).
Runtime: 1 min 16 sec
Ever since news broke yesterday that the Yankees signed free-agent first baseman Mark Teixeira to an eight-year, $180 million contract within weeks of locking up initial-named pitchers C.C. Sabathia to a seven-year, $161 million contract and A.J. Burnett for five years and $82.5 million, I've been turning the events over in my head, trying to think of something funny to post on the blog (for a change! BAM! Self-zing!!!)
A full day has gone by, and to be absolutely 100% honest, I can't think of one damn funny thing to write about the Yankees. I couldn't think of a funny text to send my Yankee-fan friends, I couldn't think of a funny self-deprecating text to send to my Pirate-fan friends, I kicked around any number of Photoshop ideas (Yankees building a 50-foot golden robot to play center field?), I racked my brain for list ideas (Top 10 Free Agents The Yankees Are Still Pursuing -- #10, I don't know, Bill Gates or something, cause he's rich), but nothing about this situation struck me as funny in any way.
All I could think of, really, was....... f*ck. Pardon my language and lack of creative insight contained therein, but seriously, just, f*ck.
Every article written in the past year about the "Feel-Good Rays" and about the Brewers and Indians building internally and about the (illusion of) competitive balance in Major League Baseball and about the changing economic landscape of sports with a lengthy recession looming and about teams no longer being able to simply "buy" success and all that other crap now takes an immediate -- and possibly permanent -- back seat. Or, to put it another way...
THE YANKEES ARE SPENDING $423 MILLION DOLLARS ON THREE F*CKING HUMAN BEINGS. THIS IS NOT A SPORT ANYMORE. THIS IS NOT ANYTHING. NOTHING IS ANYTHING. AHHHHHHHHHHHHHHHHHHHHHNDFL2O3IFG;W'[GPOAIH1 CFQL,2
I know I'm in a bad mood when even the headlines on the New York Post's website aren't cheering me up:
This guy asks his wife to come into the bathroom to check out a possible problem with his behind. How did she not see this coming?
Click here to watch the video
Submitted By: mag1kr3zin
Tags: stinky surprise
A French hedge fund founder who lost $2 billion he'd invested with disgraced money manager Bernie Madoff killed himself in his Manhattan office today.
Rene-Thierry Magon de la Villehuchet, founder of Access International Advisors, had just confessed the investment and probable billion-dollar loss to clients, and had spent days frantically trying to figure out ways to recover his losses.
Police were called to Access International's office early today, and found one dead victim, reported by French newspaper La Tribune to be Villehuchet.
[A friend] told AFP Villehuchet was "devastated" and feared his clients would turn against him in the courts.
"Access was his whole life, and Madoff was a manager in whom he had complete trust. I lunched with him two weeks ago and he said, how lucky it was that Madoff was the only manager still doing well at the moment."
Villehuchet was married, without children.
