Microsoft backs Icahn's bid to oust Yahoo board
Yahoo instead opted for an online advertising partnership with rival Google Inc. that is supposed to boost its annual revenue by $800 million. That alliance faces an antitrust review by the U.S. Justice Department because Google and Yahoo combined control more than 80 percent of the U.S. search advertising market.
In its Monday statement, Yahoo asserted Microsoft is trying to use Icahn to engineer a purchase of Yahoo's search engine in a deal that would hurt the company in the long run, by hindering its ability to compete in the Internet's rapidly growing ad market.
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Member Comments
Posted By: TheVigil @ 07/08/2008 12:33:14 AM
Comment: I think merger with Microsoft would be good for Yahoo. Yahoo has good mail services and a great instant messenger, and a serious lack of focus. Microsoft's mail and IM don't measure up but the company's far more purposeful, direct, has everything else Yahoo lacks, and a lot of money besides...would be good for both parties I think...don't know why Yahoo's board is fighting so hard against it.