Major investor to back Yahoo board: related news

Major investor to back Yahoo board

Investment firm Legg Mason, which holds 4.4 percent of Yahoo's stock, will back company's slate of candidates in a stockholders meeting Aug. 1

Yahoo Rejects Another Bid From Microsoft, Icahn

Last night Yahoo rejected another offer for its search business from Microsoft and investor Carl Icahn. The proposal also included conditions that would have required the replacement of Yahoo's top management and board of directors. This is not the first time Icahn has pushed for such a measure. Quoting: "Yahoo said in rejecting the offer it told Microsoft it was willing to sell the entire company for at least $33 a share and its board believed such a deal could be negotiated and executed before its annual shareholders meeting on August 1. Yahoo said it also informed the software giant it remained willing to negotiate an 'improved search only transaction.' Microsoft, however, rejected both offers, Yahoo stated."

YAHOO SPURNS JOINT MICROSOFT-ICAHN BID TO REVAMP FIRM, ACQUIRE SEARCH BUSINESS

TEL AVIV (MarketWatch) -- Yahoo Inc. said late on Saturday that it rejected a restructuring proposal from Microsoft Corp. and the investor Carl Icahn, and the Sunnyvale, Calif., Internet-services giant called on Microsoft to bid for the whole company. Yahoo said the Microsoft-Icahn plan, which it said would turn Yahoo's search business over to the Redmond, Wash., software giant and the rest over to the New York investor, was presented as a take-it-or-leave it proposition. "This odd and opportunistic alliance of Microsoft and Carl Icahn has anything but the interests of Yahoo's stockholders in mind," Yahoo Chairman Roy Bostock said in a statement. Yahoo said that while it rejected the restructuring, it offered two alternatives: "It repeated its offer to sell the entire company to Microsoft for at least" $33 a share, and it "offered to nego

Yahoo! Announces New Privacy Choice

Yahoo! Inc. announced that it will offer users the ability to opt-out of customized advertising on Yahoo.com. This new option expands Yahoo!'s existing opt-out program for customized advertising served by Yahoo! on third party networks. Yahoo! announced the new opt-out capability as part of its response to a Congressional inquiry about customization sent to 33 companies from the House Energy and Commerce Committee. This new opt-out capability is expected to be available for consumers by the end of August. Users will be able to access the opt-out in the Yahoo! privacy center, which is linked on the home page and nearly every page on the Yahoo! network.

Icahn-Yahoo declare truce

Activist investor Carl Icahn will join Yahoo’s (YHOO) board in a deal that ends a proxy fight that threatened to throw the Internet giant into deeper uncertainty. Under the agreement, one Yahoo director - Activision (ATVI) chief Robert Kotick - won’t stand for re-election, while Icahn will become a director and the board will choose two more nominees from a list of nine candidates. That list comprises the eight members of Icahn’s proposed board slate and Jonathan Miller, the former chief of AOL. The settlement will give Icahn, who owns about 5% of the stock, a sizable voice on the board.

Yahoo! rejected Microsoft bid for search business, due to exclusivity clause

Microsoft dropped bid for all of Yahoo! on 8 June and launched a bid of USD 1 billion for Yahoo!'s search business and a share of future search advertising revenue. This proposal also included an USD billion investment in Yahoo! but required Yahoo! to commit to a 10-year exclusive arrangement, according to a letter sent to Yahoo! stockholders by CEO Jerry Yang and Chairman Roy Bostock. The letter explains the reasons for Yahoo! to sign a four year non-exclusive deal with Google for online advertising services and to end the talks with Microsoft, as their search-only hybrid proposal may have been helpful to Microsoft. The board and its advisers also carefully studied the financial impact of Microsoft's proposal and concluded that it would have provided no meaningful improvement to the operating cash flow.

Frank Biondi and John Chapple Join Yahoo Board of Directors

In accordance with the terms of the settlement with Carl Icahn, Yahoo has added two more board members to complete the expansion to 11. Frank Biondi and John Chapple, who previously were members of Icahn's proxy board, have been appointed just two weeks after Icahn's appointment was made official. 8 of Yahoo's previous board stayed on for the deal.

Takedown Artist

In the wake of the unsuccessful Yahoo/Microsoft merger, Yahoo shareholders are venting their anger against an executive leadership they feel has failed them. Foremost among them is corporate raider Carl Icahn. This is going to be ugly. By the time you read this, Yahoo will be preparing for its most dramatic annual shareholder meeting in recent years. The meeting, originally scheduled for July 3, was pushed back after a Yahoo board rejection of Microsoft's buyout offer prompted a proxy war against the board by investor Carl Icahn.

Yahoo turns down Microsoft/Icahn search bid

Yahoo late Saturday revealed that it has rejected a purportedly aggressive joint bid proposed by Microsoft and investor Carl Icahn. The deal would have seen both the Windows developer and Icahn buy Yahoo's search business and significantly restructure Yahoo to potentially improve its remaining businesses, including the replacement of the board of directors with Icahn's own slate and remove the "top management team" at the company, which most observers believe would include Yahoo chief Jerry Yang as well as others known to have opposed any of Microsoft's earlier offers for takeovers and partial buyouts.

Yahoo Rejects Microsoft-Icahn Search Proposal

Yahoo rejected another offer for acquisition of its search business. This time it was a joint proposal from Microsoft Corporation and investor Carl Icahn to acquire Yahoo’s search business in return for cash, a partial stock buyout and revenue guarantees. There was also an addition requirement for the complete replacement of the Yahoo board and executive management team. Yahoo was urged to respond within 24 hours and it was made clear that negotiations were not acceptable.

Microsoft said on Monday that it might renew talks to buy Yahoo's search technology or the entire company only after the Yahoo board and its Chief Executive Jerry Yang were ousted.

Microsoft said in a statement that a buyout of Yahoo would depend on whether billionaire financier Carl Icahn succeeds in ousting the Yahoo board and Yang.

Yahoo puts Icahn on board

NEW YORK (CNNMoney.com) -- Yahoo said Monday it will add Carl Icahn to its board as part of a deal reached with the activist investor over the online giant's line-up of candidates for board of directors.

Microsoft: Fire Yahoo’s Board, and We’ll Talk

The pressure for Yahoo to knuckle under and do a deal with Microsoft just keeps rising. This morning, Microsoft said in a statement that it’s willing to return to the table for a new deal—either for Yahoo’s search operations or even for the whole company—if a new board proposed by activist financier Carl Icahn is elected at Yahoo’s Aug. 1 annual meeting.

Microsoft: We Might Buy Yahoo If Shareholders Fire Board

The pressure for Yahoo to knuckle under and do a deal with Microsoft just keeps rising. This morning, Microsoft said in a statement that it’s willing to return to the table for a new deal—either for Yahoo’s search operations or even for the whole company—if a new board proposed by activist financier Carl Icahn is elected at Yahoo’s Aug. 1 annual meeting.

Yahoo Rejects 'Erratic' Microsoft Search Bid

Yahoo's management on Saturday rejected an offer from Microsoft and investor Carl Icahn to buy Yahoo's Internet search ad business. The offer was initiated on Friday and Yahoo was given just 24 hours to make a decision, according to a press release issued by Yahoo.

Yahoo Rejects 'Erratic' Microsoft Search Bid

Yahoo's management on Saturday rejected an offer from Microsoft and investor Carl Icahn to buy Yahoo's Internet search ad business. The offer was initiated on Friday and Yahoo was given just 24 hours to make a decision, according to a press release issued by Yahoo.

Yahoo Blocks Venerable Email List Over False Positives

RomulusNR writes "Yahoo has stopped delivering This Is True, Randy Cassingham's 14-year-old mailing list, because too many Yahoo readers have mistakenly or carelessly flagged it as spam. Yahoo readers make up over 10% of True's readership, slashing the ad revenue that keeps it going. And Yahoo doesn't negotiate with spammers. As Randy describes it: 'The yahoos... ask to be put on True's distribution, then confirm that request, and... then click the "This is Spam" button when they don't recognize the mailing or simply don't want it anymore. Yes, those yahoos have screwed thousands upon thousands of others who really do want my newsletter. Too bad: Yahoo is listening to the yahoos instead: they're blocking it. To them, we're "spammers" and no protestations from "spammers" count.

Microsoft Parrots Google In Suggesting Tie-Up With Yahoo Violates Antitrust Laws

Back in February, we pointed out that Google was playing with fire in suggesting that a Microsoft-Yahoo merger would violate antitrust laws. It seemed fairly obvious that those statements would come back to haunt Google -- a company many others have been accusing of antitrust violations. And, indeed, even with Microsoft still trying to buy Yahoo, Microsoft is now making nearly identical antitrust claims against Google concerning its ad deal with Yahoo. It's all legal posturing, of course, in an attempt to get the government to annoy a competitor. As Declan McCullagh points out at the link above, if either company really believes that the other was violating antitrust laws, it's perfectly free to file a private antitrust lawsuit. But, instead, both companies are playing a game in trying to get the government to be a pest for the other -- a

VeriSign Board of Directors Names Company Founder Jim Bidzos to Executive Chairman, President and CEO

MOUNTAIN VIEW, CA, Jul 03 (MARKET WIRE) -- VeriSign, Inc. (NASDAQ: VRSN) today announced that its board of directors has named Jim Bidzos executive chairman, on an interim basis. Additionally, the board of directors elected Mr. Bidzos president and chief executive officer, on an interim basis, replacing William A. Roper, who resigned from the company and the board of directors effective June 30, 2008. As the company's founder and initial CEO, Mr. Bidzos has served as either chairman or vice chairman of the board of directors of VeriSign since April 1995. Mr. Bidzos also served in both senior-executive and board level capacities with RSA from 1986 to 2002. "VeriSign remains committed to our strategy of focusing the company on its core businesses while continuing the divestiture of all non-core operations, which will proceed as planned.

Yahoo Fights For Its Board; Defends Handling Of Microsoft Deal And Says Google Is Better Partner

As Yahoo (NSDQ: YHOO) prepares for its August 1 board election, the company is once again repeating an the argument: it handled the Microsoft negotiations as best it could, and the new deal with Google (NSDQ: GOOG) is better than any partial one with Microsoft (NSDQ: MSFT). As for Carl Icahn, Yahoo is taking the opportunity to trash his track record. The presentation can be seen here, in a 32-page slideshow filed with the SEC. A concise summary can be found in a separate release.

Yahoo investors relieved as it hits revenue targets despite soft economy, board upheaval

A sign outside Yahoo headquarters in Sunnyvale, Calif. is seen Wednesday, July 2, 2008. Yahoo Inc. shares rose more than 5 percent Wednesday as The Wall Street Journal reported Microsoft Corp. has talked to other media companies about teaming up to buy Yahoo's search business. (AP Photo/Paul Sakuma)

Icahn, Ballmer plot to boot Yang, Yahoo board

Tags: Transaction, Steve Ballmer, Board, Yahoo! Inc., Microsoft Corp., Activist Investor Carl Icahn, Corporate Governance, Business Operations, Corporate Law, Larry Dignan

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