Friday, February 29, 2008

Yahoo’s Lousy Performance All Microsoft’s Fault | John Paczkowski | Digital Daily | AllThingsD

One for the industry history books...

Mounting shareholder discontent over Yahoo’s response to Microsoft’s $44.6 billion takeover bid has inspired a legal pig-pile on the Internet company. In an annual report filed yesterday with the U.S. Securities and Exchange Commission, Yahoo (YHOO) said the company has been named in seven shareholder lawsuits claiming it has mishandled its response to Microsoft’s (MSFT) offer. What an annoyance that must be, but not nearly as annoying as the offer that inspired it, which Yahoo memorializes in a section of the report entitled simply,

“Microsoft’s unsolicited acquisition proposal has created a distraction for our management and uncertainty that may adversely affect our business.”

Yahoo’s Lousy Performance All Microsoft’s Fault | John Paczkowski | Digital Daily | AllThingsD

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