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Vincent Padois, head tutor at the Pierre and Marie Curie University who teaches robotics and is babysitting the Paris ICub, makes a demonstration with ICub robot, a ?hybrid embodied cognitive system for a humanoid robot" about 1 metre (3.2 feet) high, at the Pierre and Marie Curie University in Paris September 4, 2009. Six versions of ICub exist in laboratories across Europe, where scientists are painstakingly tweaking its electronic brain to make it capable of learning, just like a human child and hoping it will learn how to adapt its behaviour to changing circumstances, offering new insights into the development of human consciousness. REUTERS/Philippe Wojazer

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    Investor says Microsoft's Yahoo offer high enough

    NEW YORK
    Wed Feb 13, 2008 4:01pm EST

    NEW YORK (Reuters) - Money Manager Bob Olstein, who owns about one million shares of Microsoft Corp, is urging the company to resist pressure to raise its $31 dollar per share offer for Yahoo Inc and to make it an all-cash deal.

    Technology  |  Deals

    "Under no circumstances should you raise your price," Olstein said in a letter to Microsoft chief financial officer Christopher Liddell, dated February 12 and made public on Wednesday.

    "We believe your recent offer for Yahoo is materially above Yahoo's value as an independent company," Olstein said. The Microsoft offer is valued at about $42 billion.

    Olstein, known as a careful money manager who pays close attention to accounting issues, calculated that an all-stock deal would dilute Microsoft's earnings by 19 cents per share. An all-cash deal would dilute Microsoft earnings by a more modest 7 cents per share, he said.

    Yahoo has already rejected the offer, saying it does not reflect the value of the company.

    (Reporting by Cal Mankowski, editing by Richard Chang)
    Technology
    Deals


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