Microsoft resumes Yahoo negotiations
2008-05-19 15:33:00 (GMT) (Caymanmama.com - Business News)Seattle, Washington (CaymanMama.com) — CNN reported that Microsoft is yet again trying to join with Yahoo in challenging the advertising and online search leader Google Inc., but still there are no reports about Microsoft taking over Yahoo. On Sunday, Yahoo informed that its board has been exploring various alternatives that will maximize value and that it remains open to pursue any transactions that can be in the interest of its stockholders.
Microsoft has been emphasizing that it is not trying to revive the $47.5 billion bid that Steve Ballmer, the chief executive of the company, withdrew on May 3 when CEO of Yahoo, Jerry Yang, demanded an extra $5.5 billion. But there are possibilities that Microsoft may make another offer to Yahoo but it depends upon how the negotiations progress between companies and the respective shareholders.
Yahoo has been facing extreme pressure from the part of its shareholders for re-opening the sales negotiations with Microsoft.
Carl Icahn, an activist investor has been threatening the company to replace the entire board of the company if it does not work out a deal before the annual meeting of yahoo scheduled on July 3. It has been estimated that the latest talks between Yahoo and Microsoft are an attempt to provide a substitute to the partnership for search advertising that Yahoo is exploring with the Google for remaining independent.
CaymanMama.com - Press Release Distribution Service
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