Yahoo's shareholders are turning to the courts to try to pressure it into accepting the hostile takeover bid from Microsoft, the internet company has disclosed.
In its annual report, Yahoo said it is facing five lawsuits – four in its native California and three in Delaware, where the company is incorporated – arguing it has acted illegally by fighting the Microsoft offer, which is currently worth $42bn (£21bn).
Yahoo rejected the offer as inadequate, even though it was pitched at a more than 50 per cent premium to the value at which the company's shares had previously been trading.
Source
c u guys..
In its annual report, Yahoo said it is facing five lawsuits – four in its native California and three in Delaware, where the company is incorporated – arguing it has acted illegally by fighting the Microsoft offer, which is currently worth $42bn (£21bn).
Yahoo rejected the offer as inadequate, even though it was pitched at a more than 50 per cent premium to the value at which the company's shares had previously been trading.
Source
c u guys..
It was bound to happen & I was waiting for it. Microsoft has somewhat succeeded in wooing investors behind the scenes, I guess.