Yahoo!’s year-over-year profits fell from $151.3M to $54M… or a fall of 64%. However, they shelled out $37M to advisers to fend off MSFT’s takeover. Here’s the release.
Add that $37M back to their profits, and you get $91M in profits, or a fall of “only” 39%.
Proving the point: the advisers were just disastrous in their advice… and YHOO should be ashamed for not accepting the $31/share offer.
Right now, I think MSFT could offer $20B offer and walk away with the company for $25B.
What a disgrace.
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