Microsoft aims for Yahoo link in smaller deal

In a statement, Microsoft said only that it has raised with Yahoo the possibility of a "transaction" that isn't an acquisition of all of Yahoo, and declined to be more specific. However, Microsoft also said in the statement that it "reserves the right to reconsider" the poss...

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Bibliographic Details
Published inThe Wall Street journal Asia
Main Author Robert A. Guth, Kevin J. Delaney and Matthew Karnitschnig
Format Newspaper Article
LanguageEnglish
Published Hong Kong Dow Jones & Company Inc 20.05.2008
Subjects
Advertising
Alliances
Anniversaries
Cooperation
Internet
Service introduction
Shareholder activism
Stockholders
Tender offers
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Summary:In a statement, Microsoft said only that it has raised with Yahoo the possibility of a "transaction" that isn't an acquisition of all of Yahoo, and declined to be more specific. However, Microsoft also said in the statement that it "reserves the right to reconsider" the possibility of a bid for the company, depending on developments or talks with Yahoo or its shareholders or other parties. In a statement, Yahoo said that it "has confirmed with Microsoft that it is not interested in pursuing an acquisition of all of Yahoo at this time." But Yahoo added that it remains "open to pursuing any transaction which is in the best interest of our stockholders." The company said its board will review its alternatives "including any Microsoft proposal." In an email to employees Sunday, the executive in charge of Microsoft's online business outlined the company's online strategy, stating that, among other areas, Microsoft will focus on trying to "disrupt" the search market through new investments, expand its display-ad business through partnerships and make "small, targeted acquisitions." Kevin Johnson, president of Microsoft's Platforms & Services Division, said, "The fact is that we are not where we want to be in this business yet and we've been in this position longer than we'd all like."