West Technology Limited: Yahoo respond to Icahn and Microsoft
This business news is provided from the West Technology Limited
July 23 According to foreign media reports, Yahoo’s financial report on Tuesday showed that the incident of Microsoft’s acquisition and another tough shareholder Icahn have been brought Yahoo financial hurt. In the first half year, has spent 36 million U.S. dollars to fight against the two rivals.
The second quarter, Microsoft’s acquisition of Yahoo has brought turmoil to 22 million U.S. dollars of losses. Loss of performance for the specific part of advertisers cancelled advertising spending, and Yahoo to hire a lawyer, to pay large legal fees.
The first quarter, Yahoo Inc. used the funds in this regard for 14 million U.S. dollars. Two quarters combined, the cost reached 36 million U.S. dollars.
Up to now, Yahoo has become the agreement and Yi Kanda, 11 people in the new board of directors, Icahn and its allies will get three seats. However, how to develop Microsoft’s acquisition of the incident remains to be seen. August 1, Yahoo will hold a general meeting of shareholders, many investors will take advantage of this opportunity to vent their grievances and Jerry Yang of dissatisfaction with the current board of directors.
Yahoo’s current market value of 47.5 billion U.S. dollars is 18 billion U.S. dollars less than the bid Microsoft Corp. has given. While Yahoo’s earnings continued to decline, Yang has not come up with a convincing plan of revitalization. The media generally believe that the poor performance will give Jerry Yang school.
