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Shareholders searching for dйtente in the battle between Yahoo and Microsoft are unlikely to find it in Microsoft’s new proposal to buy Yahoo’s search business, one the Internet company swiftly rejected on Saturday.
The proposal made late last week represents a formal alliance between Microsoft, whose takeover efforts Yahoo had rebuffed for months, and the billionaire investor Carl C. Icahn, who is seeking to unseat Yahoo’s board. It also represents a newer, more hostile approach by Microsoft, in which the software giant is willing to team up with one of the most aggressive activist shareholders today. Among its requirements were the replacement of Yahoo’s board — and a response within 24 hours.
View Full Article: The New York Times
The proposal made late last week represents a formal alliance between Microsoft, whose takeover efforts Yahoo had rebuffed for months, and the billionaire investor Carl C. Icahn, who is seeking to unseat Yahoo’s board. It also represents a newer, more hostile approach by Microsoft, in which the software giant is willing to team up with one of the most aggressive activist shareholders today. Among its requirements were the replacement of Yahoo’s board — and a response within 24 hours.
