Printed from http://www.electronista.com

Microsoft completely withdraws proxy board

updated 06:25 pm EDT, Thu May 8, 2008

Microsoft withdraws board

Microsoft has put the final nail in the coffin in terms of the Yahoo merger, as the proposed proxy board received notice from the software giant Thursday morning, dismissing any responsibilities the board would have had in the event of a hostile takeover. The Wall Street Journal writes that Microsoft's law firm Sullivan & Cromwell sent out the notice, indicating that company is firmly rooted in its decision to not make a hostile bid for Yahoo.

The withdrawal disappointed Yahoo investors - some of which were holding out for a high $30-per-share price - sending stock prices plummeting, with some of the value recuperated over the following days as confidence was restored.

Yahoo was also weighing an option of electing its own alternate board, according to insiders familiar with the matter.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. Herod

    Fresh-Faced Recruit

    Joined: Jun 2007

    0

    good

    no one wanted this to happen anyway. concentrate on your garbage vista os instead.

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Tablo DVR

With over-the-top content options growing past Hulu and Netflix, consumers may be finding it harder to justify paying a monthly fee fo ...

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 ...

Sponsor

toggle

Most Commented

 
toggle

Popular News