Microsoft never made a compelling offer: Yahoo Chairman
Yahoo Chairman Roy Bostock said that there was never any doubt about the position of Yahoo board about its openness to doing a deal with Microsoft. Modern Moguls
By Agencies |
NEW YORK: Yahoo Inc Chairman Roy Bostock on Friday said that there was never any doubt about the position of Yahoo board about its openness to doing a deal with Microsoft.
The Chairman said he cannot understand why Microsoft withdrew its full-scale merger offer. "There was never a compelling offer put on the table," he added.
Earlier, Bostock began by greeting investors at the Internet company's long-awaited annual meeting. The atmosphere is expected to become tense as Bostock and Yahoo CEO Jerry Yang begin fielding questions from shareholders.
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Yahoo shares slipped 20 cents in Friday trading to $19.69, well below the $33 per share that Microsoft offered in early May before withdrawing.
In protest, a significant number of shareholders are expected to oppose the re-election of Yahoo's current directors.
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