Microsoft, Yahoo buyout talks back on: reports
Microsoft Corp is back in talks to buy out Yahoo Inc, a technology blog reported on Tuesday, citing multiple unnamed sources at both companies. Phishing email
By Agencies |
NEW YORK: Microsoft Corp is back in talks to buy out Yahoo Inc, a technology blog reported on Tuesday, citing multiple unnamed sources at both companies.
Both Microsoft and Yahoo declined comment. "The information we have is thin, but what one source is saying that Microsoft is talking a price lower than the $33 they were offering when the talks disintegrated in May," the report said.
Yahoo shares rose 5.73 percent to $22.68 on the Nasdaq in afternoon trading.
Both Microsoft and Yahoo declined comment. "The information we have is thin, but what one source is saying that Microsoft is talking a price lower than the $33 they were offering when the talks disintegrated in May," the report said.
Yahoo shares rose 5.73 percent to $22.68 on the Nasdaq in afternoon trading.
On the other hand dissident Yahoo Inc investor Eric Jackson had urged fellow shareholders last week to vote for a board comprising five existing directors and four nominees from billionaire investor Carl Icahn's slate.
Jackson, who leads a group of 146 investors holding 3.2 million Yahoo shares, said that, while he supported Icahn fully, he recognized that major shareholders may not. So he proposed a "third option" to create a new board that is more responsive to shareholders' concerns.
Jackson, who leads a group of 146 investors holding 3.2 million Yahoo shares, said that, while he supported Icahn fully, he recognized that major shareholders may not. So he proposed a "third option" to create a new board that is more responsive to shareholders' concerns.
| | Also Read |
| �� | |
| �� | |
| �� | |
| �� | |
| �� |
Icahn, who owns more than 4 per cent of Yahoo, launched a proxy battle in May to replace the Web pioneer's board in the wake of Microsoft Corp's failed effort to acquire the company.
"Neither side running for election can guarantee that Microsoft will ever come back to the table with an offer for Yahoo," Jackson said in a statement first published on TheStreet.com. "We must accept that reality and select a board to do the best job in the current situation (even as distasteful as the situation is).
"I want Icahn to win outright, but I am putting forward this "Third Option" because I fear several large shareholders will worry about the operational abilities of Icahn and his team."
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
