Author Topic: Yahoo Sued For Bid Mismanagement  (Read 2826 times)

Offline Prince

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Yahoo Sued For Bid Mismanagement
« on: February 28, 2008, 08:48:48 AM »
Web giant Yahoo has said it is facing seven shareholder lawsuits over its handling of Microsoft's unsolicited takeover bid, which it has rejected.
It also said that dealing with the unwanted proposal, worth more than $40bn (?20.2bn), was distracting for management and staff.

The comments, made in Yahoo's annual report, come as Microsoft steps up efforts to take control of the firm.

Yahoo has said it is worth more than the $31-a-share it is being offered.

But Microsoft has maintained that its cash-and-share proposal is a "full and fair" valuation.

It emerged last week that the software developer has hired a firm that spe...es in corporate actions in a sign that it is preparing to try to overthrow Yahoo's board and replace it with directors more sympathetic with its objectives.

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« Last Edit: February 29, 2008, 05:06:48 PM by Prince »

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Yahoo Sued For Bid Mismanagement
« on: February 28, 2008, 08:48:48 AM »

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