Is Microsoft's Ballmer a bad dealmaker?
USA TODAY, April, 2008 by Del Jones
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The bid for Yahoo that helped sink the market value of Microsoft by more than $20 billion in one day in early February is one of the latest in a string of acquisitions and major investment stakes Microsoft has initiated since CEO Steve Ballmer took over in 2000 that have been punished by the stock market as misjudgments.
"Some learn more quickly than others. It doesn't look like Mr. Ballmer is learning that quickly," says UCLA Anderson School of Management professor Richard Roll, lead author of a study that analyzed 11 years of merger and acquisition announcements by 2,589 CEOs at 1,740 U.S. companies.
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Ballmer said Wednesday that Microsoft -- which has given Yahoo's board a Saturday deadline to respond to its offer -- is standing by its $44.6 billion bid and will "move forward" if Yahoo rejects it, Reuters reported. The original stock-and-cash offer was ...
