Yahoo Responds to Icahn's Latest Letter

Search Engine Marketing > Search Engine Watch Blog

Yahoo has responded to the letter Carl Icahn issued this morning. Here's the statement

Yahoo!'s Board of Directors continues to stand ready to enter into negotiations with Microsoft Corporation for an acquisition of Yahoo!. Indeed, as recently as June, Yahoo!'s independent directors and management approached Steve Ballmer about just such a transaction, only to be told that Microsoft was no longer interested even in the price range which they had previously proposed. Now Mr. Ballmer and Mr. Icahn have teamed up in an apparent effort to force Yahoo! into selling to Microsoft its Search business at a price to be determined in a future "negotiation" between Mr. Icahn's directors and Microsoft's management. We feel very strongly that this would not lead to an outcome that would be in the best interests of Yahoo!'s stockholders. If Microsoft and Mr. Ballmer really want to purchase Yahoo!, we again invite them to make a proposal immediately. And if Mr. Icahn has an actual plan for Yahoo! beyond hoping that Microsoft might actually consummate a deal which they have repeatedly walked away from, we would be very interested in hearing it.

Full article at: http://feeds.searchenginewatch.com/~r/sewblog/~3/328994457/080707-120817

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Channel Title: Search Engine Watch Blog
Channel Description: Provides constant updates of the latest search engine marketing and other search news from Search Engine Watch and across the web.
Channel Link: http://blog.searchenginewatch.com/blog/
Time added to seo24 archive: 13:00:15 - 08/07/2008 - Current server time: 19:39:22
seo24 Category: Search Engine Marketing