Google has been defended as a more desirable partner than Microsoft Corp. by the Internet pioneer Yahoo Inc.
Yahoo again confirmed about its planned advertising joint venture with Google and it targeted those reports that were narrating about a new deal with Microsoft. The report was based on information from anonymous sources and it emerged even Yahoo’s repetitive rejection of the Microsoft buyout bid that followed a war of words for almost five months.
In this Yahoo’s letter the best option has been declared to work with Google but the chances of the new deal with Microsoft have not been completely ruled out.
The letter may be a part of Yahoo’s strategy to avoid an attempt of confiscating its board at the time of its first annual meeting that will held in August. The mutiny emerged after the rejection of Microsoft’s buyout bid of $ 47.5billion.
After Chief Executive Jerry Yang‘s stipulation for $37 a share, the bid was withdrawn by the Wash-based software maker. It is worth mentioning that the Yahoo’s stock hasn’t reached at that price after January 2006.
The activist investor Carl Icahn, not please with board’s handling of the Microsoft talks, has selected nine candidates to change Yahoo’s present directors and Yang is also among them. Ichan may also fire Yang as CEO if he prevails.
Yahoo’s shareholders are being urged to reject Ichan’s schedule and provide another opportunity to Yang to prove the company’s worth more than $47.5 billion.
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