Yahoo is not averse to Microsoft take over
Yahoo, which has come under attack for sabotaging any potential takeover of the company, on Thursday said it is open to any deal, including a sale to Microsoft, if it benefits shareholders.
Responding strongly to investor Carl Icahn’s allegations that Yahoo had sabotaged any takeover bid from Microsoft, the company’s Chairman Roy Bostock in a letter on Wednesday said that the billionaire misinterpreted recent facts.
Icahn in a letter on Wednesday termed Yahoo’s employment retention plan as a poison pill. Yahoo said that his letter seriously misrepresents and manipulates the facts regarding the recent events pertaining to Microsoft and the company.
Noting that Icahn is under the impression that Microsoft would come back to the negotiating table for a full acquisition of the firm, Yahoo said it had reached out to the software giant in the last several weeks.
Describing the claims made on the retention plan as just plain wrong, Yahoo said the initiative is intended to enhance shareholder value by attracting and retain the best talent.