Microsoft open to Yahoo deal with an alternate board
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“While of course there can be no assurance of a future transaction, we will be prepared to enter into discussions immediately after Yahoo!’s shareholder meeting if a new board is elected” - Microsoft
Microsoft Corp. today issued a press release with their latest stance on possible deals with Yahoo. In summary, Microsoft is open to working with an alternate Yahoo board, one that is supported by Carl Icahn. A Carl Icahn / Jerry Yang showdown seems inevitable in the upcoming shareholder meeting on August 1st where if a new board is elected, Jerry Yang’s removal from his CEO post is inevitable.
Microsoft has made it clear that it has not changed its position on a possible deal with acquiring part or whole of Yahoo but has had difficulty in making that happen with the current Yahoo board - “We have not changed our position, even as we continue to move forward with our own online search and advertising offerings. We therefore welcome interest by Mr. Icahn in pursuing this and other discussions”
SOURCE: Microsoft
