p2pnet - rss feed: Yahoo continues to spurn Microsoft
p2pnet news | Products:- It’s a lot like a forced mediaeval marriage.
The groom is eager to marry the bride so he can get its hands on her dowry, among other things. But the bride is utterly horrified.
The former is represented by Microsoft and the latter by Yahoo, which is still desperately trying to find ways to avoid ending up in bed with Bill and the Boyz.
"Microsoft, whose offer for Yahoo is now worth $41.2 billion, was preparing to escalate its takeover fight by starting a proxy contest next week," says the New York Times.
But Yahoo, "today announced that it has amended the Company’s bylaws to extend the deadline for nominating directors to Yahoo!’s board from March 14th to 10 days following the public announcement of the date for Yahoo!’s 2008 annual meeting of stockholders," it says, going on:
"As the Company has not yet announced the date of this year’s annual meeting, the amendment will give stockholders who want to nominate one or more directors, including Microsoft Corporation, more time to do so. The amendment does not preclude any party from nominating one or more directors at any time prior to the new deadline."
The maneuver comes, "as Yahoo has stepped up merger and joint venture talks with AOL, a unit of Time Warner," says the NYT, quoting unnamed sources.
[NOTE - p2pnet is running a special reader’s survey. It only takes a minute - literally. Please click here. Cheers! And thanks … Jon]
Also See:
New York Times - Yahoo Seeks Way to Block Microsoft, March 5, 2008
Yahoo - Board Continues to Explore Alternatives to Maximize Value, March 5, 2008
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March 5th, 2008 at 2:37 pm
anyone wanna explain this in layman’s terms for me?
March 5th, 2008 at 2:45 pm
I’m probably wrong, but it seems as though there is gonna be some sort of vote…That’s what I figure…but then again, I failed grade 10 business.
March 5th, 2008 at 8:34 pm
If your business doesn’t go public, it doesn’t get into ownership hassles. Simple as that.
March 6th, 2008 at 3:17 am
congrats be soot start new era.
March 6th, 2008 at 10:28 am
A proxy is someone who votes for a stockholder.
Microsoft wants to convince Yahoo’s stockholders to let their people be their proxy.
If Microsoft convinces enough stockholders to allow Microsoft friendly proxies to vote to sell the company, Yahoo senior management won’t be able to block it.
March 6th, 2008 at 10:35 am
You can hardly get as big as Yahoo without beeing public. Me I am concerned about internet monopolistic issue with Microsoft trying to take over Yahoo. I hope they fail. Considering the crap they put in Vista there is reasons for concern.
May be Microcrap will be the next company to shoot down.