Yahoo Inc turns down Microsoft offer
Yahoo's board of directors say the $44.6 billion bid "substantially undervalues" the veteran company.
By HT Correspondent | AFP, San Francisco
UPDATED ON FEB 12, 2008 03:44 AM IST
Yahoo's board of directors on Monday rejected Microsoft's buyout offer, saying the 44.6-billion-dollar deal "substantially undervalues" the veteran Internet company.
"After careful evaluation, the board believes that Microsoft's proposal substantially undervalues Yahoo including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments," Yahoo said in a statement.
On February 1, Microsoft unveiled what it called "a generous" offer to take over Yahoo, in an effort to merge the world's biggest software company with a major Internet player to take on search and advertising juggernaut Google.
Microsoft proposed 31 dollars per share to Yahoo's board, a 62 per cent premium above its closing price the previous day.
Germany to pay nuclear operators 2.4 billion euros for plant closures
Posted by Harshit Sabarwal | Reuters
PUBLISHED ON MAR 05, 2021 04:41 PM IST
The Frankfurter Allgemeine Zeitung daily had reported on Thursday that a sum of 2.4 billion euros will be made available from the general budget, citing government sources.
Maharashtra economy to register negative 8% growth in 2020-21: Economic survey
PUBLISHED ON MAR 05, 2021 04:19 PM IST
Industry and services sector were the worst hit by Covid-19 pandemic at a negative growth of 11.3% and 9% respectively, according to the state’s economic survey tabled in the state legislature by finance minister Ajit Pawar on Friday
Utkarsh Small Finance Bank files for IPO, plans to raise ₹1,350 million
By hindustantimes.com | Written by Deepali Sharma, Hindustan Times, New Delhi
PUBLISHED ON MAR 05, 2021 04:07 PM IST
The Utkarsh CoreInvest Limited is the promoter and ICICI Securities, IIFL Securities, Kotak Investment Banking are the book-running managers of the offer.
Microsoft’s $10 billion Pentagon deal at risk amid Amazon fight
Posted by Harshit Sabarwal | Bloomberg
PUBLISHED ON MAR 05, 2021 03:59 PM IST
The US Defense Department said it will reconsider the controversial procurement if a federal judge declines to dismiss Amazon.com Inc.’s allegations that former President Donald Trump’s meddling cost the company the winner-take-all contract.
Sensex falls 440 pts to end at 50,405; Nifty ends session in red at 14,938 pts
PTI, Mumbai
UPDATED ON MAR 05, 2021 04:13 PM IST
- Sensex falls 440 pts to end at 50,405; Nifty ends session in red at 14,938 points
Amazon's 'Tandav' row puts Bollywood, global streaming giants on edge
Reuters, Mumbai
PUBLISHED ON MAR 05, 2021 02:51 PM IST
- Companies like Amazon's Prime Video and Netflix are inspecting planned shows and scripts, with some even deleting scenes that could be controversial, five Bollywood directors and producers, and two industry sources said.
Asian LNG prices edge higher on Indian, Chinese demand
Reuters
PUBLISHED ON MAR 05, 2021 02:44 PM IST
The average LNG price for April delivery into Northeast Asia was estimated at about $5.70 per million British thermal units (mmBtu), up about 10 cents from the previous week, sources said.
Oil soars to near 14-month high as OPEC+ extends output cuts into April
Reuters
PUBLISHED ON MAR 05, 2021 02:22 PM IST
Brent crude futures for May rose to as high as $68 a barrel on Friday, a level not seen since Jan. 8, 2020. The contract was up $1.09, or 1.6%, to $67.83 a barrel at 0730 GMT, and was on track for a near 3% gain in the week.
I-T Dept detects unaccounted income of ₹175 crore during Tamil Nadu raids
By Divya Chandrababu, Hindustan Times, Chennai
UPDATED ON MAR 05, 2021 11:31 AM IST
- Income tax officials have also seized ₹3 crore cash during raids on two groups of civil contractors in Tamil Nadu
Sensex slumps over 440 points, Nifty slips below 15,000 in early trade
By hindustantimes.com, Mumbai
UPDATED ON MAR 05, 2021 09:54 AM IST
The BSE gauge Sensex was trading at 50,405.99, showing a drop of 440.09 points or 0.87 per cent in the opening session.
Case to get petrol, diesel under the ambit of GST
By Roshan Kishore, Hindustan Times, New Delhi
UPDATED ON MAR 05, 2021 07:35 AM IST
- At a time when petrol and diesel prices are at an all-time high, and taxes have a bigger component in the retail price than the base price of the fuels, it is worth revisiting the debate
FT should be probed by Sebi and not ED or cops, says Amfi
By Neil Borate, Hindustan Times, Mumbai
PUBLISHED ON MAR 05, 2021 12:55 AM IST
- The ECIR is reportedly based on an FIR filed by the Chennai police under Section 420 of the IPC on the basis of a complaint by the Chennai Financial Markets and Accountability (CFMA), an organisation that fights for investors’ rights.
Wearables market grew 144% in ’20 on remote working shift
By Abhijit Ahaskar, Hindustan Times, New Delhi
UPDATED ON MAR 05, 2021 06:42 AM IST
- Shipments in the December quarter grew at a higher rate of 198% annually with 15.2 million units.
E-com boom sets off a scramble for warehouses
By Kalpana Pathak, Tanya Thomas, Hindustan Times, Mumbai
UPDATED ON MAR 05, 2021 02:34 PM IST
- The companies are also opting for large boxes for storage, with around 400,000-plus sq. ft being the average demand.
Wipro to acquire UK consultancy Capco for $1.45 billion
By Ayushman Baruah
PUBLISHED ON MAR 05, 2021 12:05 AM IST
- The latest acquisition is Delaporte’s boldest move to spur growth after the company ceded its position as India’s third-largest software services provider to HCL Technologies Ltd.