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 May 5th

Mon,12:40 PM
Three Ways to Protect your Apple Watch (and One Way Not To)
Wed,8:45 PM
Why I’m not Buying an Apple Smoke Detector
5:25 PM
ACM 358: The Devil’s Advocate, Apple Scaling, and Tim Cook’s Speeches
5:00 PM
Hulu Is Going to Launch What Was Denied to Apple: A Cable-like Internet Subscription Service
4:53 PM
ThinCharge iPhone 6/6s Battery Case (Black): $56.99
3:10 PM
The Internet of Things is Really a Thing in Germany
2:47 PM
TMO Daily Observations 2016-05-04: The Big HomeKit and Apple Smoke Detector Rant
9:52 AM
FBI’s TOR, VPN-targeted Warrants Amount to Court Sanctioned Mass Surveillance
9:10 AM
OS X: Turning Off Inline Mail Attachments
Tue,9:03 PM
Apple Snags 10% of Time’s 50 Most Influential Gadgets of All Time
6:29 PM
‘IPHONE’ Trademark Fight Illustrates Apple’s Headwinds in China
5:25 PM
Drone Ballet Show at Mt. Fuji - Beautiful Performance and Music
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!