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Global Investing Roundups
Icahn’s Yahoo Victory; XM Gains Listeners; Gloomy Economic Outlook; Crude Gains on Tropical/Political Storms; Hasbro Beats Expectations; Corn Cut Down; Goldman Banker Summoned by Paulson; Union Asks Citi to Break Up Operations
Yahoo! Inc. (YHOO) agreed to give three spots on its board of directors to activist investor Carl Icahn, a vocal opponent of the way current Yahoo management handled a buyout offer from Microsoft Corp. (MSFT). Icahn will fill one board spot himself, while the Yahoo board will select from Icahn’s pre-approved list of nine potential candidates to fill the other two spots, Bloomberg News reported.
XM Satellite Radio Holdings Inc. (XMSR) yesterday…
22Jul2008 | Money Morning | Comments Off | ContinuedWhat’s Next For Microsoft and Yahoo?
Shares of Yahoo! Inc. (YHOO) tumbled 15% yesterday (Monday) to close at $24.37 a share as investors responded to Saturday’s news that Microsoft Corp. (MSFT) would drop its $47.5 billion dollar bid for the beleaguered search engine firm.
But the tough times are just beginning for Yahoo, which must now prove why it is worth more than the lofty price Microsoft was offering.
“Yahoo is going to be under a lot of pressure,” Peter Falvey, managing director at technology-merger adviser Revolution Partners, told Bloomberg News. “A lot of shareholders are going to say, ‘Hmm, maybe we overreached.’”
Microsoft originally offered $31 per…
6May2008 | Money Morning | Comments Off | Continued
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