According to a SEC filing, Yahoo shelled out $36 million in the first half of 2008 to the outside advisers that helped the company avoid getting bought out by Microsoft Corp. and the proxy threat from activist investor Carl Icahn.
Yahoo hired investment banks Goldman Sachs Group Inc., Lehman Brothers Holdings Inc. and Moelis & Co., and the law firm Skadden Arps Slate Meagher & Flom, after Microsoft made its initial $44.6 billion offer.
Yahoo’s $36 million tab, amounts to about 5 percent of the $673 million in profit Yahoo reported in the first six months of the year.
The $36 Million does not include Yahoo’s attorney fees related to the Microsoft saga.
The $36 Million also does not include attorney fees incurred by Yahoo’s defending several pending shareholder lawsuits.
As we all know Yahoo turned down Microsoft’s $31 a share offer then its $33 a share offer.
Yahoo is trading at $20.19 today
unreal.. just unreal.
yahoo looks good to me at the $20 level
Are searchers, visitors and advertisers coming to Yahoo or leaving Yahoo.
I was all and now I am neither.
Hard to come back on the Internet. There is always someone who can do it better, faster, cheaper and quicker.
Yahoo will be sold and consumed or it will fit a sale all the way down to $0.90 a share then sell for $1.50 a share.
Excite.com anyone? Lycos?
Yahoo has no innovative products, people are leaving and there is no reason to go to Yahoo for anything.
Who’s the second place auction after ebay? I don’t know.
Who’s the second largest online store behind Amazon? I don’t know.
Who’s the second largest search engine after Google? I don’t care.
Too bad. I used to love Yahoo for everything.
The worst part is the apathy of the shareholders–those who voted actually re-elected those board bums!!
J
Your right and elected them by a large margin
For the sake of the domain name owners yahoo should never merge with microsoft or any other company this way the domain name owners have a choice which ads they like to have placed on their domain name websites so if google sets unreasonable conditions on their adsense program.
Variety is the spice in life – the more choices the better.
Damir, you are missing the point. Yahoo is dying on the vine, there is no viable Google competitor now. Either Yahoo gets bought and the buyer rebuilds a viable Google competitor or Yahoo erodes into nothingness as vultures grab the remnants.
I think Yahoo did good by not selling out to Microsoft. It was a good very good business decision on their part. i know with 20 bucks or less per share today it does not seem like it was a smart business move not to sell to microsoft. Remember it is all about traffic and they get the most of it on the whole entire internet. If I were them, i would be jumping up and down about the stock price going down and quietly buying back as much stock as possible in smaller blocks. Smart move and 36 mil well spent! The are some smart guys and investors running that company!