Newsletter Signup
Where current and emerging technology trends meet.
TecTrendsInformation Sources, Inc.
  | About TecTrends | Email Signup | Contact Us
 Live Search:
Live Search | Articles | Companies | TecTerms | Products
  Loading TecTrends Live Search - please wait... 
View Noteworthy Articles      PRNewswire
 
Article

Title: Yahoo Scrambles to Fend Off Microsoft Bid

Author: Kopytoff, Verne Article Type: Company
Source: San Francisco Chronicle, pC1(2) Publication Date: Mar 6, 2008
URL of Publication: http://www.sfgate.com

Yahoo! Inc., struggling to ward off Microsoft Corp.'s $44.6 billion takeover bid, has managed to extend the deadline for nominating its new board of directors. Yahoo! rejected Microsoft's offer last month, saying it 'substantially undervalued the company.' Microsoft has said it will continue with its bid regardless. The original deadline for nominating directors was March 14. It will now be moved to 10 days after it announces a date for its annual meeting. The annual meeting must be held by July 12, 2008, according to the law in Delaware, the state in which Yahoo! is incorporated. If Yahoo! misses this deadline it may face suits by investors compelling the meeting. Yahoo! will give the two companies time for friendly negotiations, also giving itself more time to explore alternatives. Experts also note that Yahoo! may have moved the deadline, after assessing the odds of a Microsoft victory in a proxy fight and finding a loss to be the likely outcome. Yahoo! has also been in merger talks with Time Warner's AOL as well as other companies, including Google Inc. and News Corp., in an effort to find an alternative to the Microsoft offer.

Companies:
AOL LLC Google Inc
Microsoft Corp News Corp
Time Warner Inc Yahoo! Inc

TecTerms:


[Get Copyright Permissions] Click here for copyright permissions!
Copyright 2004-2008 Information Sources Inc.
 


Home About TecTrends About Us Contact Us Privacy Statement Terms and Conditions

TecTrends | P.O. Box 8120 | Berkeley CA 94707 | (510) 525-6220 | Email: tectrends@tectrends.com
© 2006 INFORMATION SOURCES INC | All rights reserved.