The Times : Microsoft hints at Yahoo! merger
by Andrew Redfern @ 19th May 2008 1:15 pm
The Times (London) : “Microsoft has contacted Yahoo! over the last few days to explore the possibility of buying part of the online search engine, and hinted that it may still consider launching another bid for the entire group. It is thought that the new talks have centred on merging the two companies’s online search businesses.
The move by Microsoft comes just after Carl Icahn, the billionaire activist shareholder, threatened a boardroom coup, involving kicking ten directors off the Yahoo! board.”
“Yesterday, Microsoft said that it had contacted Yahoo! about the possibility of an alternative deal, which would not involve a full acquisition but the sale of just part of the company.
Should Microsoft’s new proposal be accepted by Yahoo!, it could help the internet company to avoid a damaging proxy fight with Mr Icahn.
It is not thought that Microsoft had been in talks with Mr Icahn.
In its statement published yesterday afternoon, Microsoft said: ‘[We are] not proposing to make a new bid to acquire all of Yahoo! at this time, but [we] reserve the right to reconsider that alternative depending on future developments and discussions that may take place with Yahoo! or discussions with shareholders of Yahoo! or Microsoft or with other third parties. There of course can be no assurance that any transaction will result from these discussions.’”
Read the full article here : Microsoft goes back to Yahoo! with offer of merger deal
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