Yahoo and Microsoft In The News
Aug 6th, 2008 by Shaun Carter
After the dust settled from the Microsoft/Yahoo merger fiasco, Carl Icahn got his seat on the board next to Jerry Yang and Co. Icahn’s position has long been that of continuing talks with Microsoft about a potential merger, however after reaching his compromise with Yang about board seats and abandoning his proxy battle, his motives may have changed as well.
Microsoft also recently announced a $20 Billion stock buyback over the next quarter that could be taking the place of any potential Yahoo acquisition. Microsoft has been repurchasing copious amounts of stock with its billions in cash sitting around Redmond, WA. Trading near its 52-week low, Microsoft looks like a very good buy right now.
Yahoo is also trading down significantly since it ruined its chance of a buyout by Microsoft, also trading near a 52-week low. Also in the news today is the proxy vote recount where it was discovered that Broadridge Financial accidentally “truncated” the vote results and gave the existing Yahoo board much more credit than they deserved. All the directors still received enough votes to stay in office, however it was by much slimmer margins than first thought.
What next? Mac & Google? Thanks for the post, its really refreshing, haven’t read about this in a while. I’ve also heard about Glyphius entering the scene, do you have any idea about this?
This is actually the first time I’ve ever heard of Glyphius, and after doing a quick search about it I don’t think it’s even on the radar of these companies.