Interesting story popped up on ComputerWorld today about the Microsoft offer to Yahoo. Here’s what made it most interesting to me (emphasis mine):
According to the Post, the discord revolves around Yang and his followers being so opposed to selling the company to Microsoft that Bostock and his group fear they will act out of emotions rather than their fiduciary duty to Yahoo shareholders. Such an action could expose the board to lawsuits by shareholders.
I thought it was nothing more than simple greed that motivated the initial “thanks but no thanks” response from Yahoo.
I was part of a start-up that wound up getting acquired for a fairly paltry sum compared to an offer earlier in the year. Our board rejected the initial, far larger offer because it “significantly undervalued the company”. Sound familiar?
OK – I promise try to stay on topic and avoid gossip in future posts… I just couldn’t resist since this brought back such painful memories.