Yahoo Sued For Saying No

Two Detroit pension funds are upset with Yahoo's recent rejection to Microsoft's buyout offer.  They have filed a law suit over their grievance:

"According to the lawsuit, Yahoo's board is pursuing "value-destructive" third-party deals in an effort to fight off Redmond, Wash.-based Microsoft, which on Feb. 1 announced a takeover bid of $31 per share in cash and stock, a 62 percent premium over Yahoo's previous day's closing price."

Given that Yahoo and Microsoft are both major players in the industry, we can't help but wonder what an acquisition would due to portfolios that included both stocks.
Via:  Google/AP
Tags:  Yahoo, Sue, Yi
Comments
Kamrooz 6 years ago

 This is seriously a scary situation. Last thing I want to see is get yahoo purchased. I use quite a few of yahoo's services, and microsoft always tends to ruin a good thing at times. If they tend to actually take the route yahoo has in their software/service/advertising department to generate profits, then it would be a good deal for microsoft. But last thing I want to see is microsoft to pick up yahoo, and run it the way they "think" it would be better. 

Even though I've never had a stock portfolio, will indeed in the future some time (once I can afford it). But I'd be completely torn on what to do in this situation, if Microsoft genuinely wants to change the way they do business, then it's a good purchase. But there is a huge potential they could literally ruin Yahoo's placement as a company.

ice91785 6 years ago
A lot of it IMO is a matter of principle more than anything else -- as I said before its a lot like MS is bullying the "littler" guys around saying that they "sign here and make money or we'll take you over in our own way and you make nothing"....

This is B.S. to me and I applaud yahoo for denying MS -- Last time I checked, Yahoo was still a multi-million dollar company...they must be doing okay for themselves
viperfour 6 years ago

In todays "sue happy world" this doesn't surprise me.

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