Lansing (MI) - Several Yahoo shareholders have jointly filed a lawsuit against the online giant after it failed to agree to a nearly $45 billion acquisition offer from Microsoft.

Last week, Microsoft announced it was looking to buy Yahoo for $44.6 billion but Yahoo ultimately decline, saying it was worth more than the presented offer.  Michigan's Wayne County Employees' Retirement System, which owns over 13,000 shares of Yahoo, argue that Yahoo failed to enter substantial negotiations with Microsoft.

As a result, they filed a lawsuit saying that Yahoo executives "are entrenching themselves in office and protecting and advancing their own interests at the expenses of Yahoo and its stockholders while Yahoo's stock price languishes."

"The board of directors is continually evaluating all of its strategic options.  Our board believes the Microsoft proposal substantially undervalues Yahoo," Yahoo spokesperson Diana Wong told Bloomberg News.

MS

Feb 14, 2008 15:51     

MS should start a hostle takeover and just buy them out right. if they want to buy another site, even better, a 6 billon extra price tag is not going to stop MS$...all they have to do is sell MS software for 9 months and here is 6 billion dollars. extra site for MS to make ad $.
yo report abuse vote down vote up Votes: +0

Talk about MS being money hungry... what about yaho...

Feb 15, 2008 02:31     

Talk about MS being money hungry... what about yahoo shareholders? Deaf and money hungry? And yeah, hostile takeover: Let MS start by buying the shares of the Michigan's Wayne County Employees' Retirement System.
Virtualban report abuse vote down vote up Votes: +0

end of yahoo?

Feb 15, 2008 08:01     

Some are indicating the end of Yahoo if it is bought by Microsoft. How often does Microsoft do anything right? MS cares more about software piracy than they do their own customers. Makes me wonder how many non-Windows or 'anti-'Windows groups will be lost if Microsoft takes over Yahoo.
TomLeeM/BigWarpGuy report abuse vote down vote up Votes: +0

Yahoo was dumb

Feb 15, 2008 12:58     

When someone offers you double what the stock is worth and your stock has been going down in price for a year, then you take the money and run. Yahoo hasn't seen $40 a share for years and they have been losing ground.
ThomFrost report abuse vote down vote up Votes: +0

Yahoo is Smart

Feb 23, 2008 01:38     

Yahoo is being smart. They are trying to get as much money as possible out of MicroShit. Why risk settling for $10 when you might be able to get $100? It's called bargaining, and Yahoo is just trying to get the best deal possible. Thats IF they decide to sell it. Microshit is just turning into a monopoly. They're trying to buy out everything.
anonymous report abuse vote down vote up Votes: +0