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Computerworld Report: Microsoft readies new try for Yahoo
Time Warner, News Corp. are potential partners, WSJ says
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July 2, 2008 (IDG News Service) Microsoft Corp. is seeking partners, including Time Warner and News Corp., in a new bid to acquire Yahoo Inc.'s search business, The Wall Street Journal reported today.
Microsoft wants to acquire Yahoo search, with the partner, likely a media company, taking the rest of Yahoo's business. CEO Steve Ballmer called Yahoo Chairman Roy Bostock and arranged a meeting set for Monday, but that meeting was canceled, the Journal reported, citing people familiar with the situation.
Microsoft officials contacted in London had no comment this morning.
In February, Microsoft made an unsolicited bid to buy all of Yahoo, an offer the company refused. Although Microsoft later raised its offer price, Yahoo continued to decline, and in early May, Microsoft ended the negotiations.
On Monday, his final day as Microsoft's chairman, Bill Gates stated that he thought any deal between his company and Yahoo was unlikely.
However, the matter has refused to go away with Microsoft indicating it would still be interested in buying part of Yahoo, namely its search business. At the same time, Yahoo investor Carl Icahn has pushed for a deal with Microsoft. He has stated publicly on several occasions that the company's board failed to serve shareholder interests by refusing to sell, and he is maneuvering to replace the board at an upcoming investor meeting in August.
On Monday, Yahoo gave shareholders a 32-page presentation that sought to shore up support for the board ahead of that meeting, and defended its decisions in the face of Microsoft and Icahn criticism.
Reprinted with permission from
IDG.netStory copyright 2008 International Data Group. All rights reserved.
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