Wednesday, February 20, 2008

Microsoft Hires Proxy Grp To Help Oust Yahoo Bd - WSJ.com

I guess that's why it's called "hostile"...

Microsoft Corp. (MSFT) is getting ready to take its bid for Yahoo Inc. (YHOO) right to the Web portal's shareholders, even as analysts wait for a higher offer.

Separately, Yahoo Inc. adopted new severance packages that protect employees in the event of a Microsoft takeover.

Microsoft has hired proxy solicitation group Innisfree M&A Inc. to help oust Yahoo's 10-member board, all of whom are up for re-election this year.

Article - WSJ.com

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