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Microsoft is said to be in talks with Yahoo yet again just weeks after the company knocked back it’s $49.7 billion buyout bid.
Microsoft is said to be in talks with Yahoo yet again just weeks after the company knocked back it’s $49.7 billion buyout bid.
Since Yahoo CEO Jerry Yang knocked back the buy out, Yahoo stock holders have been up in arms. A group of investors led by activist investor, Carl Icahn, have banded together and plan to oust the board and call for Yang’s resignation at the next Yahoo meeting (to be held July 3).
To pressure Yahoo, Mr Icahn has nominated an alternate slate of directors to replace the current board (led by himself )and has bought up a more than 1billion in Yahoo stock in the last few weeks to increase his leverage. It is assumed should Icahn and his group be successful they will attempt to renegotiate the sale to Microsoft.
Meanwhile back in the Microsoft camp, a new statement has been released stating that the Microsoft “is not proposing to make a new bid to acquire all of Yahoo at this time, but reserves the right to reconsider that alternative.”
“Microsoft is considering and has raised with Yahoo an alternative that would involve a transaction with Yahoo but not an acquisition of all of Yahoo.
“Microsoft is not proposing to make a new bid to acquire all of Yahoo at this time, but reserves the right to reconsider that alternative depending on future developments and discussions that may take place with Yahoo or discussions with shareholders of Yahoo or Microsoft or with other third parties.”
The plot thickens…
