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 TMO Headlines - Updated December 2nd

Wed, 1:55 PM
Ecobee SmartCamera Gets HomeKit Support
Wed, 1:48 PM
Apple and TMO Picks of 2020 – TMO Daily Observations 2020-12-02
Wed, 11:53 AM
Parking Service SpotHero Gets CarPlay Integration
Wed, 10:09 AM
New Apple MagSafe Duo Charger Now Available
Wed, 9:55 AM
Inside the iPhone Wi-Fi Exploit Apple Patched This Year
Wed, 9:23 AM
Scorecard Grade YouTube Advertisers That Target Kids
Wed, 7:22 AM
Zoom... Disney+... Apple Reveals its Apps of The Year For 2020
Tue, 5:25 PM
Salesforce Buying Slack for $27.7 Billion
Tue, 5:17 PM
The iPhone 12 Gets Sent to The Bottom of a Lake. Is it Water Resistant Enough Survive?
Tue, 4:38 PM
FITT360 Hands-Free Neckband Camera: $469.99
Tue, 4:21 PM
Apple Releases Pro Display XDR Calibration Tool
Tue, 4:17 PM
iconOS, the Website for Custom App Icons
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Daily Observations
  • TMO on Twitter!