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Monday, July 07, 2008
Yahoo Ready to Negotiation With Microsoft
FOXBusiness
Yahoo! stands "ready to enter into negotiations Microsoft" over the possibility of an acquisition, the company said in a release on Monday.
This comes after billionaire activist investor Carl Icahn said in a letter today that, if his slate of directors is elected, Yahoo! (YHOO) would "expeditiously" remove the company's Chief Executive Jerry Yang and would enter into negotiations with Microsoft (MSFT) to sell the entire company.
Yahoo! shares gained more than 10% in mid-day trading on the Nasdaq Stock Exchange.
In its letter to Icahn, Yahoo! said that "if Microsoft ... wants to purchase Yahoo!, we again invite them to make a proposal immediately."
Microsoft withdrew a $47.5 billion bid to buy Yahoo in early May.
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