Yahoo Survives Annual Meeting, Re-Elects Board, Microsoft Cries Foul
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 settlement of the Carl Icahn proxy challenge.
According to CNET, Yahoo board chairman Roy Bostock said, “At no point did the board or management in any way, despite rumors and speculation, ever resist Microsoft’s proposal . . . There was never any doubt…that the board was open to a deal with Microsoft and for search only if it made sense, but ultimately, there was never a compelling offer put on the table.”
That characterization and others caused Microsoft to make the following statement: “Yahoo! is attempting to rewrite history yet again with statements that are not supported by the facts.”
With the Microsoft episode theoretically behind it, Yahoo now will be compelled to execute on the range of ambitious plans and initiatives that it laid out over the course of the last year.