Yahoo Rejects Another Microsoft Offer
By Anna Johnson on July 14th, 2008Yahoo has rejected another offer by Microsoft – this time made with major Yahoo investor Carl C. Icahn’s support – to buy Yahoo’s search business.
The offer was made on Friday evening by Mr. Icahn and Microsoft CEO, Steven A. Ballmer. It would have involved Yahoo selling its search business to Microsoft, with Mr. Icahn taking over the remaining parts of the company. Yahoo had 24 hours to respond and, after meeting with its financial and legal advisors, rejected the offer on Saturday night.
Yahoo stated that it was still open to selling the entire company for $33 per share – a price that Microsoft had previously offered but has since withdrawn – or selling its search business on better terms.
Microsoft… Mr Icahn… the ball’s back in your court…
Source: Michael J. De La Merced, “Yahoo Again Spurns a Microsoft Offer”, July 13, 2008, The New York Times
