UPDATE 1-Yahoo CEO says not likely to meet with Microsoft
(Adds deal background; byline; closing stock prices)
By Sue Zeidler
SUN VALLEY, Idaho, July 10 (Reuters) - Yahoo Inc's (YHOO.O) chief executive said on Thursday he was unlikely to meet with representatives of potential suitor Microsoft Corp (MSFT.O) at this year's meeting of media and tech executives in Idaho.
Microsoft, which withdrew its $47.5 billion takeover offer for Yahoo in May, said this week it would be willing to reopen talks to buy all or part of the Internet company if a new board is elected at an upcoming shareholder meeting.
But Yahoo CEO Jerry Yang, while walking in the lobby of the venue for the Allen & Co conference in Sun Valley, only said "I don't think so" when asked by Reuters if he had plans to link up with Microsoft executives while there.
Billionaire investor Carl Icahn, who owns more than 4 percent of Yahoo's stock and is running his own slate of candidates, also said this week he had "spoken frequently" with Microsoft CEO Steve Ballmer over the past week.
Yang later told the Wall Street Journal that Microsoft was set on "destabilizing" the company.
Yahoo has said it remains open to talks with Microsoft, but that it felt any deal negotiated between Icahn and Microsoft would not be in the best interests of its shareholders.
Shares of Yahoo fell 32 cents, or 1.3 percent, to close Thursday's trading at $23.50 on the Nasdaq. Microsoft shares closed up 22 cents at $25.45. (Editing by Braden Reddall)
- Tweet this
- Share this
- Digg this
- Libyan militants overrun Benghazi special forces base as chaos deepens
- Subdued investment banking hits Barclays profits |
- Carnage at U.N. school as Israel pounds Gaza Strip |
- More violence in China's Xinjiang, prominent academic indicted
- African girls to sue British Airways over alleged abuse by pilot