MICROSOFT RESPONDS TO YAHOO! ANNOUNCEMENT

Reiterates Full and Fair Proposal for Microsoft-Yahoo! Combination

REDMOND, Wash. — Feb. 11, 2008 — Microsoft Corp. (NASDAQ:MSFT) today
issued the following statement in response to the announcement by
Yahoo! Inc. (NASDAQ:YHOO) that its Board of Directors has rejected
Microsoft’s previously announced proposal to acquire Yahoo!:

It is unfortunate that Yahoo! has not embraced our full and fair
proposal to combine our companies. Based on conversations with
stakeholders of both companies, we are confident that moving forward
promptly to consummate a transaction is in the best interests of all
parties.

We are offering shareholders superior value and the opportunity to
participate in the upside of the combined company. The combination also
offers an increasingly exciting set of solutions for consumers,
publishers and advertisers while becoming better positioned to compete
in the online services market.

A Microsoft-Yahoo! combination will create a more effective company
that would provide greater value and service to our customers.
Furthermore, the combination will create a more competitive marketplace
by establishing a compelling number two competitor for Internet search
and online advertising.

The Yahoo! response does not change our belief in the strategic and
financial merits of our proposal. As we have said previously, Microsoft
reserves the right to pursue all necessary steps to ensure that
Yahoo!’s shareholders are provided with the opportunity to realize the
value inherent in our proposal.

On February 1, 2008, Microsoft announced a proposal to acquire all
the outstanding shares of Yahoo! common stock for per share
consideration of $31 representing a total equity value of approximately
$44.6 billion and a 62 percent premium above the closing price of
Yahoo! common stock based on the closing prices of the stocks of both
companies on Jan. 31, 2008, the last day of trading prior to
Microsoft’s announcement. Microsoft’s proposal would allow the Yahoo!
shareholders to elect to receive cash or a fixed number of shares of
Microsoft common stock, with the total consideration payable to Yahoo!
shareholders consisting of one-half cash and one-half Microsoft common
stock.

About Microsoft

Founded in 1975, Microsoft (NASDAQ: MSFT) is the worldwide leader in
software, services and solutions that help people and businesses
realize their full potential.

Es scheint als ob Microsoft wirklich an Yahoo! interessierter wäre als es zuerst (Werbung) schien. Trotzdem: Meiner Meinung hat Yahoo! vorerst richtig reagiert und das Angebot ausgeschlagen. Es stellt sich natürlich die Frage, bei welchem Preis Yahoo! nachgeben muss und ob Microsoft überhaupt gewillt ist das Angebot zu verbessern.

Ich jedenfalls würde mich über diesen Zusammenschluss nicht unbedingt freuen.