IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Yahoo buys time against Microsoft bid

Yahoo extends board nomination deadline in bid for more time to find alternatives to Microsoft's still-looming acquisition bid.

Yahoo has bought itself some more time to look into options to fend off Microsoft's takeover bid, by extending a deadline to nominate directors to its own board.

It was expected that Microsoft would nominate its own directors in an attempt to gain power and force the company into a takeover.

The original deadline for shareholders to nominate directors was 14 March, but this will now be moved back by 10 days.

Microsoft attempted to buy Yahoo for $44 billion in February, a 62 per cent premium on the share price, but the offer was rejected for "substantially undervaluing" the company.

Yahoo will use the extra time "to continue to explore all of its strategic alternatives for maximizing value for stockholders without the distraction of a proxy contest," it said in a statement.

Earlier this week it emerged that Yahoo was continuing talks with Time Warner about a potential takeover offer. The deal is expected to include a merger with Time Warner's AOL.

Featured Resources

Four strategies for building a hybrid workplace that works

All indications are that the future of work is hybrid, if it's not here already

Free webinar

The digital marketer’s guide to contextual insights and trends

How to use contextual intelligence to uncover new insights and inform strategies

Free Download

Ransomware and Microsoft 365 for business

What you need to know about reducing ransomware risk

Free Download

Building a modern strategy for analytics and machine learning success

Turning into business value

Free Download

Most Popular

Windows Server admins say latest Patch Tuesday broke authentication policies
Server & storage

Windows Server admins say latest Patch Tuesday broke authentication policies

12 May 2022
Russian hackers declare war on 10 countries after failed Eurovision DDoS attack
hacking

Russian hackers declare war on 10 countries after failed Eurovision DDoS attack

16 May 2022
IT admin deletes company’s databases and is jailed for seven years
Policy & legislation

IT admin deletes company’s databases and is jailed for seven years

16 May 2022