So Godfather Ballmer has stepped in and put on the Yahoo! doorstep a $44.6bn offer, half in cash and half in Microsoft shares.
That’s a 62% premium to yesterday’s share price. In Hollywood-speak, that’s an offer you can’t refuse.
I am also somewhat impressed by the following sentence in Steve Ballmer’s letter to the board of Yahoo!, outlining the synergies from the proposed combination and going into the proposed process for getting the deal done:
In light of the significance of this proposal to your shareholders and ours, as well as the potential for selective disclosures, our intention is to publicly release the text of this letter tomorrow morning.
Which is, of course, exactly what they did. For some reason, this communication strategy seems to me like a sure winner.