Yahoo Rejects New Proposal Severance Funds
Yahoo has angrily rejected a joint bid Microsoft and investor Carl Icahn.
Microsoft acquired Yahoo search engine, and Mr. Icahn would have ended with the rest of society.
Yahoo objected to get only 24 hours to consider the proposal, and there is no way to negotiate the terms of the agreement.
“It is absurd to believe that our council to adopt this proposal”
Yahoo said in the statement.
“This strange and opportunistic alliance of Microsoft and Carl Icahn have nothing more to the interests of Yahoo!” S shareholders in the eye, “Roy Bostock, chairman of Yahoo, said.
More on sale
The proposal provides for the immediate removal of Yahoo board, including management.
Repeated statements by Yahoo proposal for the sale of the company’s Microsoft at least $ 33 (£ 16,5) and part indicates that the seizure of the entire company will be much simpler than the restructuring proposal.
Microsoft offered $ 31 share in Yahoo in February. On Friday, shares closed at 23.16 dollars.
The latest offer comes Yahoo weeks before the annual meeting on August 1, when Mr. Icahn replaces its board of directors with its own list.
Mr. Icahn holds more than 5% of Yahoo.
Microsoft said it was no longer interested in negotiations with the current directors, but if negotiations on a new plate is now in August.
adapted from http://news.bbc.co.uk/
