Profile: Brian Eastwood
It’s been a few days since we checked up on the ongoing Microsoft-Yahoo saga. It’s beginning to look a lot like a soap opera after all.
- Microsoft has hired a law firm that specializes in proxy fights, which would in all likelihood see it try to oust the existing Yahoo Board of Directors and replace it with a board more sympathetic to its original offer of $31 a share. Hiring a firm for a proxy fight is seen as a much cheaper offer than upping the original offer for Yahoo. (BBC News)
- Both Chairman Bill Gates and Senior Vice President Yusuf Mehdi have affirmed their support for Microsoft’s bid for Yahoo. Gates added that the company will focus its efforts on search even if the Yahoo bid doesn’t go through. (Reuters via InternetNews.com and CNET News.com)
- It turns out that many Yahoo shareholders also own Microsoft shares. This means they support they deal no matter what happens. (The Register)
- Yahoo’s board appears to be divided, with some members worried that CEO Jerry Yang’s vehement opposition to a Microsoft takeover is clouding his judgment of what might me best for the company. At the same time, the board appears to have cooled on partnering with News Corp. (NewsFactor Network)
- Finally, Yahoo has drafted compensation packages for employees who happen to lose their jobs up to two years after the company undergoes a change of ownership. (CNET News.com)
Now back to your regularly scheduled programming.