When is this all going to end? This battle for a take over will go on for a long time or until Yahoo’s board gets ousted.
As described by Yahoo in a statement released late Saturday, Microsoft packaged its latest offer with activist investor Carl Icahn, a billionaire who is seeking to overthrow Yahoo’s board of directors in a shareholder meeting scheduled for Aug. 1.
Without providing many specifics, Yahoo said Microsoft renewed an earlier bid to buy the company’s search engine and proposed turning over the remaining pieces to a board controlled by Icahn.
Yahoo said it received the complex proposal Friday and was given less than 24 hours to respond.
Backed into a corner, Yahoo lashed out in a blunt manner likely to inject even more bad blood into its already venomous relationship with Microsoft and Icahn.
“It is ludicrous to think that our board could accept such a proposal,” Yahoo Chairman Roy Bostock said in the statement.
Hang in there Bostock, show Microsoft who’s the boss!
