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Shareholder revolt may derail MS bid for Yahoo
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<blockquote data-quote="The Feedster" data-source="post: 509854" data-attributes="member: 259515"><p>Microsoft may not be able to acquire <a href="http://www.techradar.com/search/results?searchterm=yahoo&dated=&datem=&datey=&show=&sort=date" target="_blank">Yahoo</a> as easily as the company believes, a <a href="http://www.news.com/8301-10784_3-9924400-7.html" target="_blank">group of portfolio managers told reporters on Monday</a>.</p><p>Unless <a href="http://www.techradar.com/search/results?searchterm=microsoft&dated=&datem=&datey=&show=&sort=date" target="_blank">Microsoft</a> increases its bid from the current $31 (£15) per share price, a group of investors that currently owns about a quarter of Yahoo says it will not support the acquisition in the event of a proxy fight.</p><p>Throw in the small matter of Yahoo’s officers owning an additional 12 per cent of the company, Microsoft may be facing opposition from more than one-third of the firm’s shareholders.</p><p><strong>Stiff competition</strong></p><p>“I'm not dying to sell at $29 (£14), which is where the deal is priced at now, or even $31 (£15) (the deal value at the time of the initial offer),” said one portfolio manager.</p><p>“I'm pretty happy to own Yahoo. And I know that if Microsoft doesn't get it now, it'll come back a year from now because it needs Yahoo.”</p><p>Although the odds may look daunting for Microsoft, the company still believes that it can engage in a proxy fight and win. Regardless, Microsoft will admittedly need to do something to bring more shareholders to its side and raising the offer price – a move that it has repeatedly said it will not do – may be its only option.</p><p></p><p></p><p><a href="http://www.techradar.com/news/internet/shareholder-revolt-may-derail-ms-bid-for-yahoo-325098" target="_blank">More...</a></p></blockquote><p></p>
[QUOTE="The Feedster, post: 509854, member: 259515"] Microsoft may not be able to acquire [URL="http://www.techradar.com/search/results?searchterm=yahoo&dated=&datem=&datey=&show=&sort=date"]Yahoo[/URL] as easily as the company believes, a [URL="http://www.news.com/8301-10784_3-9924400-7.html"]group of portfolio managers told reporters on Monday[/URL]. Unless [URL="http://www.techradar.com/search/results?searchterm=microsoft&dated=&datem=&datey=&show=&sort=date"]Microsoft[/URL] increases its bid from the current $31 (£15) per share price, a group of investors that currently owns about a quarter of Yahoo says it will not support the acquisition in the event of a proxy fight. Throw in the small matter of Yahoo’s officers owning an additional 12 per cent of the company, Microsoft may be facing opposition from more than one-third of the firm’s shareholders. [B]Stiff competition[/B] “I'm not dying to sell at $29 (£14), which is where the deal is priced at now, or even $31 (£15) (the deal value at the time of the initial offer),” said one portfolio manager. “I'm pretty happy to own Yahoo. And I know that if Microsoft doesn't get it now, it'll come back a year from now because it needs Yahoo.” Although the odds may look daunting for Microsoft, the company still believes that it can engage in a proxy fight and win. Regardless, Microsoft will admittedly need to do something to bring more shareholders to its side and raising the offer price – a move that it has repeatedly said it will not do – may be its only option. [url=http://www.techradar.com/news/internet/shareholder-revolt-may-derail-ms-bid-for-yahoo-325098]More...[/url] [/QUOTE]
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Shareholder revolt may derail MS bid for Yahoo
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