Yahoo! officially responds to latest Microsoft Letter

Apr 7 2008, 6:25am CDT | by Luigi Lugmayr

Yahoo!'s board of directors released an official response to the Microsoft open letter sent over the weekend.

The statement reiterates that Yahoo!'s Board thinks that the Microsoft offer is not in the best interest of shareholders.
Yahoo! says that the company value has not been declining and that they reaffirmed their Q1 and full year guidance.Yahoo! considers Microsoft's threat to commence an unsolicited offer and proxy contest to displace the independent Board members to be counterproductive and inconsistent with Microsoft's stated objective of a friendly transaction. Yahoo! believes shareholders will stick with the board.

Yahoo! is still open though to a Microsoft transaction if it represents a price that fully recognizes the value of Yahoo! on a standalone basis and to Microsoft.
Via this Yahoo! press-release.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.