Ads by TechWords

See your link here
Receive the latest technology news and information.
Networking
Computerworld Daily News (First Look and Wrap-Up)
Computerworld Blogs Newsletter
The Weekly Top 10
Cloud Computing
View all newsletters




Privacy Policy
 

Yahoo board reported split over Microsoft takeover bid

Chairman heads group supporting sale; CEO Yang is opposed, New York Post reports

February 15, 2008 12:00 PM ET

Active Comments
Anonymous says: The shareholders of a public traded company do own the company. They may each only own a small part, but...
Steve C. says: Everything you said appears to be true. That is what saddens me the most. Shareholders' are not the business owners....


Computerworld - Yahoo Inc. Chairman Roy Bostock is leading a group of the company's board members in favor of accepting Microsoft Corp.'s unsolicited $44.6 billion takeover bid, according to a new report.

The informal group headed by Bostock also includes other board members and billionaire investor Ron Burkle, according to the report in the New York Post, which quoted unnamed sources close to the situation. Board members Eric Hippeau, a managing partner at Softbank Capital, and Robert Kotick, CEO of Activision Publishing Inc., are standing behind Yahoo CEO Jerry Yang, who does not want to accept Microsoft's offer.

On Monday, Yahoo's board rejected Microsoft's offer, saying it undervalued the company.

According to the Post, the discord revolves around Yang and his followers being so opposed to selling the company to Microsoft that Bostock and his group fear they will act out of emotions rather than their fiduciary duty to Yahoo shareholders. Such an action could expose the board to lawsuits by shareholders.

Yang sent a letter to shareholders Wednesday night, saying that Microsoft's bid substantially undervalues the company and that Yahoo is positioned to take advantage of growth in the online advertising market.

Yahoo could not be reached for comment.



Jump to comments

yahoo

Additional Resources

Xerox
By using solid ink technology only from Xerox, you could save up to 65% by printing color for the cost of black and white. Enter for a chance to WIN a PhaserTM 8860 network color printer!
Microsoft
Save time and mitigate security risk. Deploy it now.
Sybase
In this white paper, IDC analyzes the role of next-generation mobile enterprise platforms as organizations seek a more strategic deployment of mobile solutions.

Learn the important issues you must consider before starting your next mobility initiative. Get your mobility white paper from IDC now, compliments of Sybase.

What People Are Saying

White Papers & Webcasts

Southern Company
Download Now  

Aligning IT to Business: The Rising Importance of Application Delivery Networks
Application Delivery Networking (ADN) will play a vital role in helping enterprises incorporate strategic technologies to achieve business initiatives.

Mitigate Risk, Lower Costs and Improve Network Efficiency
Create a stable IP network that not only meets today's challenges, but is flexible enough to also meet future demands.

Share our Strength
Download Now  

Preparing Your Business Services for the Future
Would you trust your network monitoring tools enough to know when something is truly halting a business service?

IPAM: Slashing Network Costs
Slashing Network Costs by Consolidating and Automating Core Network Services

Horror stories: Managing IT Across Multiple Locations
How one extra sharp IT manager eliminates daily agony, hassle and repetition.

Disaster Recovery & Cost Savings Zone
Thousands of customers world-wide have turned to virtualization solutions from Riverbed as a way to reduce costs.