In our last update concerning Yahoo, we brought you news regarding the reorganization of the business following Microsoft’s failed bid for the company. Latest news as discussed in this article from the Wall Street Journal, indicate that Microsoft may renew their bid pending changes on Yahoo’s end. Microsoft CEO Steve Balmer has informed activist shareholder Carl Ichan that the company will not reopen negotiations with the current board in place. Any potential negotiations will take place after Yahoo’s August 1st meeting where it is expected that a new board will be elected. The bid that the previous board of Yahoo had turned down was worth $47.5 billion.
This statement was issued by Microsoft regarding the matter.
"We respect the right of Yahoo!'s shareholders to determine the destiny of their company, and we do not intend to engage in ongoing commentary on these issues in advance of Yahoo!'s shareholder meeting."
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