proxy

Yahoo shares continue to lag as deadline looms

Here's a number to chew on as Yahoo finishes out its earnings week and faces a Saturday deadline to formally negotiate a merger with Microsoft: 6 percent.

That's how far its shares have fallen since it reported its better-than-expected earnings after the markets closed on Tuesday. Compare that with the Dow and the Nasdaq, which both ended up slightly higher during the same period.

Yahoo's stock may apparently be feeling the affects of Microsoft's threats to walk away from the deal or go "hostile" with a proxy fight or tender offer, or both.

During … Read more

Yahoo investor guide to Microsoft's A, B, and C options

Updated at 12:25 p.m. PDT with details about Yahoo's share price.

Yahoo investors may see some interesting gyrations in the company's share price in the coming weeks, should the Internet pioneer and Microsoft fail to enter formal merger talks.

Microsoft issued an ultimatum to Yahoo nearly three weeks ago, demanding the Internet company enter formal negotiations by this Saturday, or face the prospect it could walk away from the deal, see a tender offer launched, and/or a proxy fight ensue, as outlined in its letter to Yahoo directors.

On February 1, Microsoft announced it had … Read more

Ballmer's letter to Yahoo board: 'Now is the time'

Editor's note: Here's the full, unedited text of a letter Microsoft CEO Steve Ballmer wrote Saturday to Yahoo's board of directors, giving it three weeks to make a decision about the software giant's $44.6 billion bid for the Net pioneer.

April 5, 2008 Board of Directors Yahoo! Inc. 701 First Avenue Sunnyvale, CA 94089

Dear Members of the Board:

It has now been more than two months since we made our proposal to acquire Yahoo! at a 62 percent premium to its closing price on January 31, 2008, the day prior to our announcement. Our … Read more

Yahoo shares get a dose of Miracle-Gro

Yahoo's stock price is beating a little stronger these days. And that rise was not necessarily driven by the full onslaught of the company's big, splashy, three-year financial game plan unveiled two weeks ago, say several hedge fund managers.

Rather, the 12 percent share price increase over the past fortnight may stem from Yahoo's quiet notation in that financial game plan that the company's first-quarter performance is expected to fall in line with Wall Street's current assessment.

"Their stock price has risen, not because of their plan, but because they reaffirmed their first-quarter guidance,&… Read more

Yahoo extends deadline for Microsoft to name opposition slate

Yahoo announced Wednesday that it is extending the deadline to nominate opposition candidates to its board of directors, a move that will likely delay a hostile proxy fight with Microsoft.

The deadline had previously been set for March 14, but now will be extended to a new deadline of 10 days after Yahoo announces the date for its shareholders meeting.

In its announcement, Yahoo stated:

"As the company has not yet announced the date of this year's annual meeting, the amendment will give stockholders who want to nominate one or more directors, including Microsoft Corporation, more time to … Read more

Tech companies beware, a bear may be outside your door

Has your tech company played coy with a potential suitor lately? You may want to rethink your reaction.

In the past four months, Oracle, Microsoft, and Electronic Arts have all launched high-profile, unsolicited buyout bids for reluctant targets. Such efforts are otherwise known as bear hugs.

Oracle put the squeeze on middleware competitor BEA Systems in October; Microsoft did likewise with Yahoo at the start of this month; and on Sunday, EA made a play for rival game publisher Take-Two Interactive Software.

Did someone forget to put the lid back on the honey jar?

In the case of Oracle, it … Read more

Sybase may face proxy fight

Business software company Sybase may be headed for a proxy fight, The Wall Street Journal is reporting. Sandall Asset Management, a company controlled by hedge fund manager Thomas Sandell, has notified Sybase that it plans to elect its own three candidates to the company's board. Sandell is Sybase's second-largest institutional investor.

The notice comes more than two months after Sandell asked Sybase to explore its strategic options, including putting itself up for sale, an initial public offering, or spinoff.

Read the full story at The Wall Street Journal (subscription required): "Sybase holder Sandell is poised for proxy fight&… Read more

Investor continues to pressure Sprint CEO

Activist investor Ralph Whitworth is continuing to put pressure on Sprint Nextel CEO Gary Forsee, according to the Wall Street Journal.

Whitworth, who owns about 2 percent of Sprint's outstanding stock, told the WSJ that he has lost confidence in Forsee. While he stopped short of asking for Forsee's resignation, he said he'd like to see the company's board of directors make some management changes to get the company back on track.

Whitworth is most concerned about Sprint's investment in WiMax, a wireless-broadband technology that would greatly increase data speeds. The company has committed itself … Read more

MoanMyIP does exactly what you think it does

Every once in a while, I come across a site that makes me do a double-take. A few weeks ago it was the unfortunate Chef Boyardee marketing site, and this week the clear winner in my book is MoanMyIP, which is a sister site (almost literally) to HearMyIP.com. Both services do just what you'd think--identifying your IP address and reading it back to you. The only difference of course is that HearMyIP uses the classic text-to-speech computer voice whereas MoanMyIP uses a female voice that announces your IP address in about as close to a not-safe-for-work/family manner … Read more