Yahoo rejects latest Microsoft / Icahn proposal

by admin July 14, 2008 at 7:56 pm

The Microsoft / Yahoo saga took another ugly turn over the weekend. According to Yahoo, the software giant teamed up with billionaire investor Carl Icahn with an offer to acquire the company’s flagship search engine. Yahoo once again rejected the proposal, however, noting it was only given 24 hours to decide and that the idea to replace the current board and top management at Yahoo – part of the deal’s terms – would destabilize the company.

Interestingly, Yahoo’s tone seems to have shifted from a few months back when it rejected Microsoft’s first takeover approach claiming its prospects as an independent company were bright.

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