Sunday, May 18, 2008

He Can if he wants - Icahn - MicroHoo - enough?

It was 'rush to press' over the past hour or so as both Microsoft and Yahoo! released somewhat anticipated weekend press releases in response to the hovering bid for Yahoo! by Carl Icahn.

There was absolutely nothing definitive in either press release.

These press releases aren't really meant for you, me, or even direct investors.

They're aimed squarely at Wall Street before the opening bell and the hundreds, possibly thousands of publications worldwide prepping their morning pages and newscasts.

Carefully worded proclamations by the legal departments that translated say "We're pretty much still open to what ever happens" in this case.

The analysts will spin this story 50 different ways in just a few short hours. Mutual fund managers and pundits will proclaim "This is what will probably happen". My Google Feed Reader will quadruple in size. I'll share 'a few' of the more likely scenarios.

There will be headlines as Icahn is busy on numerous fronts including the Blockbuster bid for Circuit City.

Nothing is being produced, created, or contributed to the GDP by these deals ... but hey, that would spoil all the fun?

Update 1 : Yahoo (NASDAQ:YHOO) was up 1.52 per cent to 28.89 in pre-market trading with 'just a few headlines (over 3000 and counting):

Update 2: Kara Swisher has a much better headline than us (and a good 'take') here

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