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. ®

Choosing a cloud hosting partner with confidence

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
The hidden costs of self-signed SSL certificates
Exploring the true TCO for self-signed SSL certificates, including a side-by-side comparison of a self-signed architecture versus working with a third-party SSL vendor.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.