SUN VALLEY, Idaho — Yahoo Inc’s chief executive said Thursday he was unlikely to meet with representatives of potential suitor Microsoft Corp at this year’s meeting of media and tech executives in Idaho.
Microsoft, which withdrew its $47.5 billion takeover offer for Yahoo in May, said this week it would be willing to reopen talks to buy all or part of the Internet company if a new board is elected at an upcoming shareholder meeting.
But Yahoo CEO Jerry Yang, while walking in the lobby of the venue for the Allen & Co conference in Sun Valley, only said “I don’t think so” when asked by Reuters if he had plans to link up with Microsoft executives while there.
Billionaire investor Carl Icahn, who owns more than 4 percent of Yahoo’s stock and is running his own slate of candidates, also said this week he had “spoken frequently” with Microsoft CEO Steve Ballmer over the past week.
Yang later told the Wall Street Journal that Microsoft was set on “destabilizing” the company.
Yahoo has said it remains open to talks with Microsoft, but that it felt any deal negotiated between Icahn and Microsoft would not be in the best interests of its shareholders.
Shares of Yahoo fell 32 cents, or 1.3 percent, to close Thursday’s trading at $23.50 on the Nasdaq. Microsoft shares closed up 22 cents at $25.45.
Source: FoxNews
Filed under: Internet, Technology | 1 Comment
Tags: board, microsoft, yahoo
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This is crazy. What do you think should happen? should yahoo give in and let microsoft takeover (and possibly bring ruin to the internet company)? or should they hold out and find other avenues of opportunity? I guess I don’t really know what would be best and who knows whats going to happen with mr icahn whos out for blood.