Kara Swisher at AllThingsD is reporting that embattled Yahoo CEO Scott Thompson is going to step down for “personal reasons.” Swisher has one or more “moles” inside the company and consistently gets inside information — which generally turns out to be correct. Thompson’s “personal reasons,” as we all know, are: misrepresenting that he had a […]
Perhaps we’re coming to the point where we’ll no longer be writing about Microsoft and Yahoo and their failed courtship. We’ll see. Today Yahoo survived its long-anticipated shareholder meeting. It’s detailed in this CNET blog post. At the conclusion of the meeting, Yahoo issued a statement that its slate of directors was elected, following the […]
Reuters reports that Gordon Crawford of Capital Research and Management, one of Yahoo’s largest shareholders, has apparently said that he may not support the existing Yahoo board at Friday’s annual shareholder meeting. The only trouble is that Yahoo’s settlement with Carl Icahn removes the ability for Crawford and other disgruntled shareholders to vote for alternatives […]
Analysts expectations were low and, depending on the analyst, Yahoo barely met or missed them. According to the press release, “Revenues were $1,798 million for the second quarter of 2008, a 6 percent increase compared to $1,698 million for the same period of 2007.” Net income fell 18 percent. The company suffered from the general […]
As Greg noted earlier, Carl Ichan was seeking control of Yahoo’s board. Instead, Yahoo and Ichan came up with a compromise, giving Ichan 3 of the 11 seats on Yahoo’s board. Eight members of the board will stand for reelection, including Yang. Robert Kotick will not be up for reelection. The board will expand to […]
The never-ending MicroHoo drama has provided virtual reams of blog posts and endless fodder for speculation. The latest installment involves the question of whether Carl Icahn’s proxy battle for control of Yahoo’s board will see any success. In case you joined this story late, institutional shareholders are frustrated by Yahoo’s unwillingness to take the original […]
There’s that moment in almost any thriller, action, or horror film when you’re supposed to think everything is resolved, but the bad guy, monster, or adversarial force makes a final appearance, startling the hero and the audience. I’m not implying anything about any of the involved parties in particular, but it appears we’re in that […]
The drama of whether Microsoft would take over Yahoo has been replaced by the drama of whether disgruntled shareholder/opportunist Carl Icahn can win a proxy fight to replace Yahoo’s board and install his own slate. Reuters reports today that a successful fight would include removal of current Yahoo CEO Jerry Yang.
Google’s recent decision to make its UK keyword bidding policy conform with the US practice of allowing competitors to bid on each other’s brands has drawn ire and threats of legal action. Today brings more such news of potential legal action against Google from a range of travel companies and retailers in the UK.
Yesterday at Google HQ in Mountain View, during the Q&A session following the discussion of Google Health, a reporter sneaked in a question about Microsoft-Yahoo. Marissa Mayer declined to answer the question, as Google CEO Eric Schmidt and co-founders Brin and Page were mulling their collective response to the new and reduced Microsoft overture (pun […]
Yahoo responded late last night to Microsoft’s statement that it had proposed a new deal but something less than a full acquisition. The Yahoo response was boilerplate and bland and betrayed nothing about Yahoo’s potential receptiveness to a scaled-back deal. The speculation and rumor is that Microsoft wants to buy Yahoo’s search business and/or that […]
What would Sunday afternoon/evening be lately without more intrigue in the MicroHoo drama? Today was no exception as Redmond issued a cryptic statement that says it’s offering to join forces with or acquire some of Yahoo — potentially the search business — in a deal short of the total acquisition previously contemplated.
As Danny reported earlier, Billionaire investor Carl Icahn is making a proxy move to oust the Yahoo board in an effort to reignite takeover talks with Microsoft. Just a few minutes ago a press release was issued by Icahn explaining his intentions and rationale.
More rumors about yesterday’s news that Carl Icahn may want to take control of Yahoo. He apparently plans to nominate 10 directors to replace Yahoo’s board later today, reports the Wall Street Journal, using an unnamed source. But Microsoft might no longer be interested in Yahoo. Plus, that Google-Yahoo ad deal? Turns out Google might be nervous that Yahoo might […]
The Wall Street Journal is now reporting that Microsoft and Yahoo are holding talks to try and avoid the promised proxy battle/hostile takeover effort that is certain to be wearying for both sides. According to the paper, “Talks between Microsoft Corp. and Yahoo Inc. intensified Friday as the two sides explored the possibility of a […]
According to the Wall Street Journal, Yahoo is ready to formally announce a deal to incorporate Google AdWords into its search results — potentially within a week. The deal could be part of a larger “open” system in which Yahoo serves the most lucrative ad in search results from its own platform, AdWords, or potentially […]
Court documents cited by the Wall Street Journal (also CNET) show that Microsoft has set aside $1.5 billion to retain Yahoo employees in the event of a successful takeover. This is apparently not tied to the generous “poison pill” severance packages that Yahoo put in place in the event of a Microsoft acquisition. The statement […]
It’s Monday morning and there are no official statements from either Microsoft or Yahoo on the passage of the Microsoft-imposed three week deadline to respond to its takeover offer. (The deadline passed on Saturday.) The Wall Street Journal has a quick assessment of where things stand. Silicon Alley Insider also posts (picking up on an […]
The NY Post is reporting that despite public statements from Microsoft CEO Steve Ballmer and CFO Chris Liddell, the offer on the table is final and that though Microsoft might “walk away” from Yahoo, there may in fact be a new and improved offer to Jerry Yang and his fellow Yahoo board members through “back […]
The Seattle PI is suggesting that the fight for control of Yahoo’s board, which Microsoft had previously threatened, may begin in earnest this weekend. Conversations with institutional shareholders have already been taking place. The three week deadline set by Steve Ballmer for Yahoo to come to the table will expire this weekend; hence the Seattle […]
Today after the stock market closes, Yahoo will report earnings. Silicon Alley Insider offers a preview based on sources cited in the NY Post: “Several sources close to Yahoo! said the company will not blow the lid off earnings, but will likely beat analysts’ expectations of 9 cents a share and revenue estimates, excluding traffic […]
Microsoft has had enough, it seems. The company has fired off a written ultimatum to Yahoo’s board. Either conclude an agreement to be acquired by Microsoft or Microsoft will engage in a proxy fight to oust the board with one favorable to the deal. Microsoft says that despite what it calls its “generous” offer, Yahoo […]
Reuters is reporting that Microsoft may be reconsidering its bid for Yahoo in light of changed market conditions and signs of potential weakness in Yahoo’s “core business.” The article cites as sources the familiar unnamed “people familiar with the matter.” There are few details and nobody from either company comments.
In what may be a sign that Yahoo is starting to accept the very real possibility of being acquired by Microsoft, various sources, including the Wall Street Journal and CNET, are reporting that informal discussions were held between the companies on Monday in Silicon Valley. According to the WSJ’s report, Microsoft representatives pitched their vision […]
As Yahoo celebrates its 13th birthday, the looming question is: will the company be able to find an alternative to the Microsoft offer, or will Steve Ballmer & Co. prevail? According to the Wall Street Journal, Yahoo has recently “stepped up” talks with AOL about potentially folding AOL’s business into Yahoo.
Bill Gates told Reuters that, with or without Yahoo, the company would be investing heavily in Web search over the long term to compete with Google. Whether genuine or a negotiating position, Gates’ remarks also suggest that there won’t be any significant adjustments in the bid amount, currently valued at just over $41 billion and […]