bsnsBlooper: The Deal Jerry Yang Wouldn't Take — bsnsHistory

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You've heard about Yahoo passing on Google. This is the mistake that actually cost them everything.

On February 1, 2008, Microsoft made an unsolicited $44.6 billion offer to acquire Yahoo, a 62 percent premium over its stock price at the time. Yahoo's board, led by co-founder and CEO Jerry Yang, rejected the offer and held firm on a higher price, even exploring a possible merger with AOL to strengthen its position. When negotiations collapsed in May 2008, Yahoo's stock dropped 15 percent in a single day, Yang was forced out as CEO by year's end, and the company spent the next decade in decline. In 2017, Verizon acquired what remained of Yahoo for roughly a tenth of what Microsoft had once offered.

From bsnsBasics, this is bsnsBloopers, the weekly podcast that unpacks the business decisions that sounded smart, until they weren't.

Hosted by Ron Trucks. New episodes every Friday.

Another lesson from bsnsBloopers, the podcast that proves even smart ideas can blow up.

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