Printed from http://www.electronista.com

Yahoo report: Microsoft bid a distraction

updated 04:00 pm EST, Thu February 28, 2008

Yahoo report: MS offer

Yahoo has said in a report filed with U.S. regulators that Microsoft's recent bid to purchase the company is a distraction, and warned investors of such. Microsoft offered to purchase Yahoo for $44.6 billion on February 1st, but Yahoo officially rejected the bid just 10 days later. Yahoo's annual report to the U.S. Securities and Exchange Commission states that Microsoft's proposed deal could continue to distract the company as well as its management, according to Reuters.

A major Yahoo investor pleaded with Microsoft on February 12th, asking the software giant to raise its bid in an effort to close the deal. Yahoo CEO Jerry Yang personally reassured investors the following day, claiming that Yahoo is positioned to increase its value by around 60 percent by 2010. Numerous company shareholders disagreed, however, and filed a suit against Yahoo, claiming that the company failed to enter into substantial negotiations with Microsoft. Yahoo's board of directors was also said to be torn, pitting those seeking profit against others -- including Yang -- who could act out of emotion to stave off Microsoft's offer.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Sponsor

toggle

Most Commented

 
toggle

Popular News