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’Yahoo agrees deal with Google
Yahoo on Thursday sealed an alliance with search giant Google, leaving rival suitor Microsoft out in the cold as it seeks to revive its own flagging internet fortunes. The alliance between the two biggest web search companies,
Snap news
The latest on Wednesday.
- HBOS publishes rights prospectus. Shareholders meet June 26. Cash call closes July 18. Statement
- Current trading remains strong at spreadbetter IG Group. Pre-close statement
- 96.7 per cent take up for Cattles rights issue.
Yahoo postpones showdown with Icahn
Yahoo on Thursday postponed its showdown with Carl Icahn, the billionaire investor seeking to oust its board and sell the company to Microsoft. The internet company said it was putting off its annual meeting roughly until the end of July for regulatory reasons.
Icahn gains hedge fund support on Yahoo
Third Point, a $5.7bn hedge fund headed by activist Dan Loeb, has recently accumulated a stake of over 5m shares in Yahoo and is supporting investor Carl Icahn’s proxy battle, Reuters reports. Third Point,
Microsoft revives Yahoo race
Microsoft has proposed a deal to Yahoo that goes further than a partnership, although it still stops short of a full buy-out of the internet concern, said a person familiar with the situation. The comments add to indications over the weekend that the software company has launched a bid to buy a significant part of Yahoo’s operations,
Microsoft renews approach to Yahoo
Microsoft has made a fresh approach to Yahoo about a deal to combine part of their online businesses, reports the FT, although this time, the proposal stops short of a full acquisition, Microsoft said Sunday.
Icahn launches proxy battle against Yahoo
Carl Icahn, the billionaire investor, has unleashed a proxy fight to remove the Yahoo board and resurrect a takeover bid for the internet company by Microsoft. In a letter to Roy Bostock, Yahoo’s chairman,
Yahoo responds to Icahn: You just don’t get it, now go away
Via BusinessWire.
Dear Mr. Icahn:
We are in receipt of your letter with regard to your intention to seek control of Yahoo!’s board of directors.
Unfortunately, your letter reflects a significant misunderstanding of the facts about the Microsoft proposal and the diligence with which our board evaluated and responded to that proposal.
Whatever happened to Carl Icahn’s blog?
We know he’s busy. But the activist investor’s broadside against Yahoo, in a letter on Thursday, sent us scurrying to the well-trailed site to find a) the letter b) some other insight into Mr Icahn’s thinking.
Yahoo investors’ hopes rise over Icahn
Yahoo’s shares jumped to their highest level since Microsoft abandoned its takeover offer as expectations rose Wednesday that the internet company was about to come under renewed pressure to consider a deal.
Angry Yahoo investors face deadline
Yahoo shareholders angry at the failure last weekend of takeover talks with Microsoft have only until late next week to mount a campaign to force the internet company to reconsider, following a manoeuvre by Yahoo to put the matter behind it.
Yahoo chief defends strategy
Yahoo might have been prepared to accept a lower price from Microsoft rather than see takeover talks between the two companies collapse, Jerry Yang, its co-founder and chief executive, indicated Monday.
Pink Picks
Comment and analysis in the FT
Lex: Call off the search
And the winner is … Google. The shadow cast by the internet search giant has formed the backdrop to Microsoft’s bid to take over Yahoo all along.
Forget the TSLF; enter the YLF
That’s right – the Yahoo Lending Facility
Spotted on a Yahoo Message Board:
In response to recent events Federal Reserve Board voted unanimously to authorize the Federal
Yahoo’s Black Monday
Yahoo’s shares are getting hammered this morning, as investors reacted to Microsoft’s decision to rescind its $46.5bn bid for the internet company.
But according to Kara Swisher over at All Things Digital,
Microsoft leans towards hostile Yahoo bid
Microsoft late Thursday was leaning toward going hostile in its pursuit of Yahoo, with an announcement likely on Friday, reports the WSJ. But people familiar with the matter cautioned that Microsoft could still change tack before announcing its decision.
Microsoft, Ballmer and Yahoo: A ‘nasty situation’
The heat is ratcheting up – slowly and steadily – between Microsoft and its $42bn-plus bid target, Yahoo. This week Microsoft, as the FT reported on Monday, faces a critical decision in its three-month pursuit of Yahoo after its latest attempt to bring the embattled internet company to the negotiating table looked to have failed over the weekend.
Microsoft warns Yahoo on deal
Microsoft on Thursday indicated it was not prepared to raise its bid for Yahoo and would consider its alternatives, including taking its offer to shareholders, if no progress was made by this weekend in talks with Yahoo’s board.
Microsoft and News Corp talk on Yahoo
News Corp is in “serious talks” with Microsoft over a joint bid for Yahoo, reports the WSJ, although the NYT says the talks are at a “sensitive stage”. Meanwhile, Yahoo and Time Warner’s AOL are nearing a deal to combine their internet operations,
Yahoo digs in for final battle
Yahoo positioned itself for the endgame in its battle with Microsoft, on Monday issuing its strongest rejection yet of its rival’s $42bn takeover offer. But analysts said the rhetoric from both sides pointed to a negotiated settlement,
Yahoo set to dig in against Microsoft
Yahoo’s directors were in discussions late Sunday about Microsoft’s latest gambit in its unsolicited takeover approach, amid signs that the embattled internet company was preparing to dig in deeper against its suitor while Microsoft tried to turn the heat up on the Yahoo board.
Alibaba seeks buyers for Yahoo’s stake
Alibaba, the Chinese internet company part-owned by Yahoo, is in late-stage talks with a group of investors to raise the money to try to buy back the multi-billion dollar stake, should Yahoo eventually be acquired by Microsoft.
Microsoft-Yahoo proxy fight shapes up
Ron Burkle, the US supermarket magnate and head of the investment firm Yucaipa Companies, is one of the 10 Yahoo board members that Microsoft would try to eject if it wages a proxy fight at the web company’s next board meeting,
Murdoch muddies the Microsoft/Yahoo battle
Rupert Murdoch has revived discussions over merging News Corp’s MySpace social network with Yahoo, potentially thwarting Microsoft’s planned $41bn takeover. While Mr Murdoch told investors last week that he would not make a bid for Yahoo,
The market expectations gap over MicroHoo
A little cyber-spat seems to be in prospect between Slate’s Daniel Gross and Portfolio’s Felix Salmon. It’s over the price of Yahoo.
In short, Gross reckons investors are effectively guessing that Microsoft will ultimately fail to acquire Yahoo,
Yahoo shareholder ready to sell if Microsoft improves its terms
Jerry Yang’s hopes of keeping Yahoo independent have been undermined by one of his leading shareholders. Bill Miller of Legg Mason, which owns 9 per cent, has written to his own investors saying Yahoo is in a tough spot.
Microsoft pledges “all necessary steps” in pursuing Yahoo
Yahoo has officially rejected Microsoft’s unsolicited offer, saying it substantially undervalues the internet business. Microsoft later described Yahoo’s response as “unfortunate” and said its own proposal was “full and fair,”
Yahoo plays for time – and more money
There is a consensus that Yahoo will reject the unsolicited offer from Microsoft, with the Yahoo board having met on Friday and decided that the $41.5bn bid, worth $31 a share, massively undervalues the internet company.
Yahoo shares rise above offer value
Yahoo’s share price crept above the value of Microsoft’s takeover offer on Thursday on Wall Street’s expectations that the software company would pay more for a quick resolution to its unsolicited bid.
Yahoo CEO’s confidential email: Microsoft bid “one of many options we’re evaluating”
Alas, clearly not so confidential. Because Yahoo had to register the e-mail from CEO Jerry Yang to staff with the SEC. Or at least it looks like Yahoo’s General Counsel, Michael J Callahan, thought it prudent to.