Microsoft Corp.

Microsoft CEO Defends Against Breakup Amid Antitrust Probe

Strategic Insights

Apr 26, 2000 — 1 min read

As Microsoft Corp. prepares to hear whether the Justice Department and 19 state attorneys general will ask a US District Court judge to break up the company into two separate entities, CEO Steve Ballmer continued to defend the company's stance against a harsh remedy. Ballmer emphasized that he does not believe the company will be broken up, stating that any assertions to the contrary are "completely irresponsible." He also tried to alleviate concerns about the company's stock value, which has fallen significantly amid the antitrust probe. The Justice Department is scheduled to release its suggestions for how the company should be penalized for antitrust law violations, with reports speculating that a breakup of the company is likely.

Key Takeaways:

CEO Steve Ballmer continues to defend Microsoft against a potential breakup, stating that assertions to the contrary are "completely irresponsible."
Ballmer emphasized that he does not believe the company will be broken up, citing benefits to American and worldwide consumers.
The company's stock value has fallen significantly, from a 52-week high of approximately $120 to around $69 per share.
Microsoft Chief Operating Officer Bob Herbold made the rounds on Capitol Hill on Wednesday, seeking support for the company.
The company has filed motions to respond to the Justice Department's remedy suggestion, with a deadline of May 10.
Founder and former CEO Bill Gates has also visited Capitol Hill to lobby on the company's behalf.

Statistics:

Microsoft's stock value has fallen to around $69 per share, down from a 52-week high of approximately $120.
The company's stock value has declined by nearly half, according to recent reports.
The Justice Department is scheduled to release its suggestions for how the company should be penalized for antitrust law violations by the end of Friday.
The company has 19 days to respond to the Justice Department's request, with a deadline of May 10.

Sources:

Newsbytes.com, "Microsoft CEO Defends Against Breakup Amid Antitrust Probe"
20000427/WIRES ONLINE, LEGAL, BUSINESS, PC/MSTARGET/PHOTO
Reported by Newsbytes.com, http://www.newsbytes.com

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