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Yahoo! rejects Icahn, Microsoft restructuring plan

Monday 14 July 2008 | 09:26 CET | News
Yahoo! has rejected a joint proposal from Microsoft and investor Carl Icahn for a restructuring of Yahoo! that would include the acquisition of Yahoo!'s search business by Microsoft. According to Yahoo!, the pair gave the company 24 hours to decide on the proposal, made on 11 July, with no room for negotiation. Yahoo!'s board rejected the plan as not in line with shareholder interests. The company expects its existing business and search advertising deal with Google is worth more than the Microsoft plan and presents less risk and complexity than the break-up proposal. The Microsoft/Icahn

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Categories: Internet
Companies: Microsoft / Yahoo!
Countries: World
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