A few days ago I pointed out that Microsoft’s bid for Yahoo was a checkmate kind of a move: Yahoo couldn’t win from this attack. Today, by pulling its bid for the Sunnyvale, Calif.-based search company, Microsoft proved that again, and showed why it is still the Prince Machiavelli of Technology. Here is why:
Steve Ballmer’s words are going to haunt Yahoo for a long time. He sounded ominous in the press release: “I still believe even today that our offer remains the only alternative put forward that provides your stockholders full and fair value for their shares…By failing to reach an agreement with us, you and your stockholders have left significant value on the table. But clearly a deal is not to be.”
As they say…checkmate!