Tag archive: Roy Bostock

Back in June 2007 Jerry Yang, co-founder of the company, stepped into the chief executive role at Yahoo. Now he’s stepping down, leaving a company battered by the economy, a failed ad search deal with Google, and full of controversy about the rejection of the aborted Microsoft takeover. In an e-mail to employees, Yang, who’s reportedly worth $1.7 billion, said: "I will always do what is right for this great… Read More

Yahoo has announced an agreement with billionaire investor Carl Icahn that should put off a proxy battle battle at the company's shareholder meeting August 1. Under the deal, Yahoo will expand its board of directors from nine to eleven members; eight of those members will be current board members standing for re-election—including CEO Jerry Yang—while the other three seats will be filled by Carl Icahn himself and two of… Read More

In no uncertain terms, Yahoo has turned down a joint bid from Microsoft and billionaire investor Carl Icahn to take over the company. Under the terms, Microsoft would have acquired the search engine business and Icahn would have got the rest of Yahoo. Yahoo claims that it was given just 24 hours to consider the offer and there was no time for negotiation, the BBC reports. In a statement, Roy Bostock, Yahoo’s chairman, said:… Read More

In a letter to shareholders, Yahoo is extolling the results of its recent advertising partnership with Google, claiming the arrangement will result in anywhere from $250 to $450 million in cash flow during its first year. And while the letter doesn't take the idea of a merger with Microsoft off the table entirely, it certainly paints Google as a more desirable partner than Microsoft—a stance that's sure to further rankle… Read More

Investor Carl Icahn isn’t a happy man. The billionaire investor has his sights set on ousting the Yahoo board over their handling of the Microsoft acquisition offer. His latest strategy has been to write to the current chairman, Roy Bostock, attacking him over the so-called “poison pill” idea the board apparently inaugurated as a deterrent to a Microsoft takeover. The poison pill strategy would effectively encourage… Read More

Billionaire American financier Carl Icahn isn't pleased that Yahoo didn't accept Microsoft's unsolicited offer to buy the company, even after a protracted and surprisingly public courtship dance. He's so upset, in fact, that he's sent a letter to Yahoo's chairman Roy Bostock that he has formed a 10-member group that he hopes to install on Yahoo's board of directors, who will in turn push the company… Read More

After three dramatic months, Microsoft has officially ended its bid to take over Internet giant Yahoo because the companies failed to agree on a price. According to reports, Microsoft's withdrawal from the proposed deal follows a breakdown in talks Saturday morning: at the meeting in Seattle, Microsoft offered to increase its offer from $31 per share to $33 per share—which would sweeten the deal by about $5 billion—but… Read More