Feeds

Yahoo! hits back at Icahn

'Your letter seriously misrepresents and manipulates the facts'

Internet Security Threat Report 2014

Yahoo! has accused Carl Icahn of grossly misstating the facts about Microsoft's bid for the company and its subsequent actions.

Roy Bostock, Yahoo!'s chairman, denied that the company's staff retention plan was a "poison pill" designed to make a Microsoft takeover prohibitively expensive. He said payments would only be made to staff who had their jobs changed and were laid off. Bostock said the measures were put in place to keep Yahoo! staff onside during what would have been a lengthy period of uncertainty and regulatory review had the deal gone ahead.

Icahn is also accused of misrepresenting Yahoo!'s actions when it received Microsoft's bids. The letter said: "you accuse us of turning down a $40 per share offer and “sabotaging” a $33 per share offer. Again, this is patently untrue."

The letter also questions why Icahn believes Microsoft would be willing to return to negotiations to buy the whole company when it has made clear it is no longer interested in such a deal. The letter says that Microsoft and Yahoo! have met several times for discussions in recent weeks, but not to talk about a full acquisition.

The letter ends: "Conspicuously absent from your letter is any credible plan for Yahoo! other than a repetition of your insistence that the Company should sell itself to Microsoft. Indeed, your stated view that “the only way to salvage Yahoo! in the long if not short run is to merge with Microsoft” demonstrates that you have no other plan and causes one to wonder what exactly would happen to our Company if you and your nominees were to take control of Yahoo!."

The war of words is likely to continue until the company's general meeting on 1 August.

Yahoo! announced a slew of ad-related deals yesterday. It is partnering with WalMart for showing display and video advertising on the site. It has done a deal with Havas Digital to allow the agency to develop its advertising platform AMP!, which claims to make buying and selling online ads easier.

Yahoo! also announced an expansion of its Newspaper Consortium - it has now signed up 779 local US papers. ®

Beginner's guide to SSL certificates

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.