Happy Returns of the day Santosh!!
May this birthday be just the beginning of a year filled with happy memories, wonderful moments and shinning dreams
SAN FRANCISCO – Microsoft Corp. has pounced on slumping Internet icon Yahoo Inc. with an unsolicited takeover offer of $44.6 billion in its boldest bid yet to challenge Google Inc.'s dominance of the lucrative online search and advertising markets.
The surprise offer of $31 per share, made late Thursday and announced Friday, seizes on Yahoo's weakness while Microsoft tries to muscle up in a high-stakes battle with Google likely to define the technology landscape for years to come.
In a statement Friday, Yahoo said it will “carefully and promptly” study Microsoft's bid.
With its profits steadily sliding, Yahoo's stock slipped to a four-year low earlier this week and a new management team has been trying to steer a turnaround but sees more turbulence through 2008.
The announcement lifted Yahoo's share price by almost 50 percent in morning trading, while Google fell more than 8 percent, dragged down by a fourth-quarter earnings report that missed Wall Street expectations.
In conference call Friday morning, Microsoft Chief Executive Steve Ballmer indicated he won't take no for an answer after Yahoo rebuffed takeover overtures a year ago.
“This is a decision we have – and I have – thought long and hard about,” Ballmer said. “We are confident it's the right path for Microsoft and Yahoo.”
Besides the question of Yahoo's acceptance, Microsoft's bid also faces regulatory scrutiny in Washington and Europe. On Friday, the Justice Department said it is “interested” in reviewing antitrust issues. European Union officials declined to comment.
To underscore its resolve, Microsoft is offering a 62 percent premium to Yahoo's closing stock price Thursday. If the deal is consummated, it would be by far the largest acquisition in Microsoft's history, eclipsing last year's $6 billion purchase of online ad service aQuantive.
Since reaching a 52-week high of $34.08 in October, Yahoo shares have fallen 46 percent. Yahoo climbed $8.62 a share, or 45 percent, to $27.80 in afternoon trading. Microsoft shares fell $2.22, or 6.8 percent, to $30.38.
Microsoft publicly disclosed its cash-and-stock offer in hopes of rallying support from Yahoo's shareholders, making it more difficult for Yahoo's board to turn down the bid.
In a letter released Friday, Ballmer pointedly noted Yahoo's financial performance has deteriorated since Microsoft was spurned a year ago. At that time, Ballmer said he was told Yahoo believed it was better off on its own.
“A year has gone by, and the competitive situation has not improved,” Ballmer wrote in his letter.
Microsoft's previous offer was rebuffed by Terry Semel, who stepped aside last year as chief executive under shareholder pressure.
Microsoft sent its latest takeover offer to Yahoo late Thursday, shortly after Semel resigned as the company's chairman. The letter is addressed to Semel's successors, new Chairman Roy Bostock and the current CEO, co-founder Jerry Yang, who is one of Yahoo's largest shareholders.
In a prepared statement, Yahoo said its board “will evaluate this proposal carefully and promptly in the context of Yahoo's strategic plans and pursue the best course of action to maximize long-term value for shareholders.”
Microsoft views Yahoo as its best chance to thwart Google, which has leveraged its leadership in Internet search and advertising to emerge as an increasingly serious threat to the world's largest software maker's persuasive influence on how people interact with computers.
Google already controls nearly 60 percent of the U.S. search market, and has been widening its lead, despite concerted efforts by both second-place Yahoo and third-place Microsoft. By combining, Microsoft and Yahoo would have a 33 percent share of the U.S. search market, according to the latest data from comScore Media Metrix.
By joining forces, Microsoft and Yahoo also would widen their narrowing advantage over Google in providing free e-mail accounts – a service that helps foster more loyalty with users and create more advertising opportunities.
Advertisers around the world are expected to double their spending on the Internet during the next three years as more people get their news and entertainment on the Web instead of television, radio, newspapers and magazine. The trend is expected to create an $80 billion online ad market in 2010, up from an estimated $40 billion last year.
Despite an aggressive push in recent years, Microsoft's online advertising expansion hasn't paid off. Last week, the Redmond, Wash.-based company reported a 79 percent jump in its overall profit, but its online division's loss widened to $245 million.
And Yahoo has been struggling to attract more advertising even though its Web site attracts one of the biggest audiences. The Sunnyvale-based company's profit has declined for five consecutive quarters, prompting plans to cut 1,000 jobs later this month, a 7 percent reduction of its 14,300-employee work force.
Besides helping to boost its online ad revenue, Microsoft believes it could mine more profit from Yahoo by jettisoning workers and eliminating overlapping operations.
Microsoft said it sees at least $1 billion in cost savings if it buys Yahoo. Microsoft executives deflected questions about how many jobs might be lost, but the company emphasized retention packages will be offered to Yahoo engineers and other key employees, including some executives.
The fate of Yahoo's brand also is unclear if Microsoft takes over. Both Ballmer and Kevin Johnson, president of Microsoft's platforms and services division, hailed Yahoo's strong brand value but didn't commit to keeping the name alive.
There is no recorded history of the early Andhra Kings. We have very less information about the early history of Andhra Kings whose territory extended up to Central India before the well-documented Satavahana period. The Satavahanas were a dynasty which ruled from Junnar, Prathisthapana (Maharashtra and Amaravati in Andhra Pradesh over SoutheTrn and Central India from around 230 BCE onward.
The archaeological department did find a key to open the door to the past and unravel the secrets of the ancient kingdom, but sadly no one seems to be interested. And now we are on the verge of losing that key too.
In the preliminary excavations carried out by the archaeological department in 1978-83, 450 coins, gold beads,pottery, decorative art of the pre-satavahana period were found in Kotalingala village in Karimnagar district. These were found at an 120-acre site ay kotalingala with remnants of a fort, stupa, ancient Siva temple and open wells. But shockingly, a re-survey and systematic excavation have not taken place till date.
The discovery of pre-satavahana period coins showed that they belonged to king Gobada who was the first Andhra King and ruled from kotilingala , followed by Satavahana kings. Gobada is acknowledged as the first king who issued inscribed coins in the Andhra region.. Hence the discovery of the coins is considered significant in the numismatics(the study or collecting of coins) history of South India. Also, the coins could be instrumental in proving the antiquity of the Telugu language in comparison with the other Dravidian languages.
LOSING IT
However, there is a chance that this archaeological treasure trove could get submerged by the Yellampally project which is being undertaken to utilize the Godavari waters for irrigation. If this project, which is under progress, is completed, the whole site could be submerged under water. And with that, the sole hope of bringing the lost kingdoms into light. If the site is not protected and preserved, as it deserves to be, the past will be buried forever!!!!
