Monday, July 7, 2008
Microsoft said it was willing to reopen talks on a "major transaction" with Yahoo if the Internet giant replaces its board of directors.
The world's biggest software firm confirmed comments from corporate raider Carl Icahn about talks that could lead to a new takeover bid if Yahoo replaces its board of directors next month.
Microsoft said "it would be premature to discuss at this time important details such as the price or other terms of a possible transaction."
The statement added: "We respect the right of Yahoo's shareholders to determine the destiny of their company, and we do not intend to engage in ongoing commentary on these issues in advance of Yahoo's shareholder meeting."
Icahn made his comments in an open letter to Yahoo shareholders nearly a month after the California company said negotiations on a tie-up with Microsoft were apparently dead.
The US billionaire, who has amassed a stake in Yahoo and is seeking to oust the company's board, said he had in the past week "spoken frequently" with Microsoft chief executive Steve Ballmer and others at the world's biggest software firm.
"Our talks centered on the industry in general but, more importantly, on how Yahoo and Microsoft can do a transaction together" Icahn said.
By: DocMemory
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