Microsoft Abandons All Hostile Takeover Plans for Yahoo
Microsoft released it’s presumptive board nominees for an anticipated board proxy fight in the coming months, yesterday – signaling an absolute end to speculation that the company has any plans to take over Yahoo to gain a foothold in the online advertising market. This resulted in Yahoo stock taking a further plunge (-0.27) off a slight rebound from Monday’s lows which followed the failed merger talks between Yahoo and the software giant.
This leaves the door open a crack for other candidates to be nominated by disgruntled shareholders upset with Yahoo’s executive over the outcome of merger talks. Several groups have been canvassing for candidates to represent those interests at the upcoming July 3rd meeting, but speculation continues to abound over who exactly might end up running Yahoo. At par with such speculation, the voices calling for the company to resume talks with Microsoft to salvage a deal later this year.