Today's Outrage: Raw Deal for Yahoo! Investors
Yahoo!
(YHOO)
CEO Jerry Yang is about to learn a lesson in timing.
After four wasted months vainly hoping that antitrust regulators would let Yahoo! team with
(GOOG) - Get Report
in an online search ad deal, Yang is back in talks with
Microsoft
(MSFT) - Get Report
.
So we're back where we were in April -- with one big difference: Yahoo! shares are now available for half the price.
Yahoo! traded as high as $28.67 back when Microsoft was pursuing Yahoo! earlier in the year and is now at $14.46, even after a bump today on the news that Yang is ready to
again.
The last time I wrote about Yahoo! I made the point that
set the bogey for the amount of shareholder value Yang & Co. need to create if they insist on going it alone. Since Microsoft had offered to pay $33 a share, Yahoo! investors should expect no less.
They'll be lucky to get that now.
