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Thread: shareholders will fire yahoo board
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[quote=COOLSPRINGS,293709]Microsoft declined to comment. Merger talks between the two high-tech powerhouses fell apart May 3 when Microsoft CEO Steve Ballmer withdrew an oral offer of $47.5 billion, or $33 per share, after Yang asked for $37 per share — a price Yahoo's stock hasn't reached since January 2006. By suggesting a sales figure for Yahoo, Icahn clearly hopes to spur Yahoo to seek more expansive discussion with Microsoft, said Peter Falvey, managing director of Revolution Partners, which specializes in high-tech deals. Microsoft has been exploring a partial deal involving Yahoo's search and advertising operations — a concept that has been panned by Icahn, along with many industry analysts who believe the companies need to combine to counter the dominance of Internet search and advertising leader Google Inc. "This (sales figure) keeps the pressure on Yahoo," Falvey said. "It could also act as a sort of fig leaf so they can start talking about a sale again without it seeming like they are crawling back to Microsoft. They can now say to Microsoft, 'Look, we need to have these conversations now.'" Many analysts have been predicting all along that Microsoft and Yahoo would eventually agree to a deal at somewhere between $34 and $35 per share. At least two major Yahoo shareholders, Capital Research Global Investors and Legg Mason, have publicly pushed for a deal in the same price range. While emphasizing it isn't currently interested in buying Yahoo in its entirety, Microsoft also has stressed it hasn't ruled out the possibility of making another bid. [/quote]
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