The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Microsoft Dissolves Yahoo Proxy Board

Microsoft Dissolves Yahoo Proxy Board

by , 8:05 AM EDT, May 9th, 2008

Microsoft reaffirmed the claim that it won't launch a hostile takeover attempt on Yahoo with the release of the proxy board members it had assembled. The potentail board members received the word Thursday via email from Microsoft's law firm, according to the Wall Street Journal.

The Redmond-based company had culled a list of potential proxy board members in preparation for a hostile takeover move if it could not reach a buyout agreement with the Internet search and advertising company Yahoo. When the two companies failed to reach an agreement, Microsoft chose to walk away from the table instead of pursuing a hostile takeover attempt.

Microsoft presented Yahoo with an unsolicited US$44.6 billion buyout offer in February in hopes of better positioning itself to take on Google in the Internet search-based advertising market. Yahoo rejected the offer after claiming that it was undervalued.

The two companies engaged in on again/off again talks that eventually fell apart in early May. Microsoft CEO commented "After careful consideration, we believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal."

Recent Headlines - Updated November 30th

Mon,12:40 PM
Three Ways to Protect your Apple Watch (and One Way Not To)
Mon,3:42 PM
One Analyst Thinks Apple Had Best Black Friday ‘in Its Entire History’
3:00 PM
TMO Background Mode: Interview With Naomi Pearce From Pearce Communications
2:09 PM
TMO Daily Observations 2015-11-30: NSA Data Collection Changes, Amazon Instant Video on Apple TV
1:47 PM
Apple Music Beta Comes to Sonos on December 15th
10:27 AM
Apple Sued for Wiping iPhone Data at Genius Bar
9:26 AM
Amazon Feedback Says Prime Video Coming to Apple TV
Fri,7:26 PM
$100 off iPad mini 4 for Black Friday
7:11 PM
iPad mini 2 for $199 at Walmart for Black Friday
6:18 PM
$100 and $125 off iPad Air 2 for Black Friday from Best Buy
5:23 PM
20% iTunes Cards from Best Buy Back on for Black Friday
5:15 PM
20% Off iTunes Cards from Ebay/PayPal
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!