The AOL-Yahoo talks have been going on so long it’s hard to care anymore, but as we see yet more stories crossing the tape about the companies “conducting due diligence,” we do wonder one thing: Why are AOL and Yahoo telling everyone about this?
Usually corporate communications strategies are transparent: Someone has something to gain and uses the press to gain it (trial balloons, negotiations, fear-mongering, pre-selling, internal politicking, etc.). In this case, though, the daily updates seem mysterious, if only because they make both companies look indecisive and lame.
We suppose the running commentary could be a form of real-time trial balloon–And what would the market think if we did this?–but at this point the details have been pretty well hashed out.
So what’s going on here?