Yahoo!'s (YHOO) Demented Board
Posted Feb 10th 2008 7:12AM by Douglas McIntyre (RSS feed)
Filed under: Deals, Management, Top deals
Yahoo!'s (NASDAQ: YHOO) board will presently reject a $31 a share buy-out bid from Microsoft (NASDAQ: MSFT), according to The Wall Street Journal. The group thinks the offer is undervalued and will not look at any offer under $40 a share.
For the record, Yahoo!'s shares have been above $40 only very briefly in the last five years. That was in late 2005 and early 2006. Only five weeks ago, the traded below $19. The question becomes whether there is any case to be made that the Yahoo! board is acting as proper fiduciaries. The answer is almost certainly "no."
Read the whole story at 247wallst.com
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