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The Yahoo-Microsoft Soap Opera Continues

June 3, 2008

The Yahoo-Microsoft fiasco continues. Attorneys for investors won the right yesterday in court to release meeting minutes and other details behind the so far non-acquisition of Yahoo! (NASDAQ: YHOO) by Microsoft (NASDAQ: MSFT). Not much of a commercial real estate angle here except to say that Yahoo owns a bunch of land in Santa Clara that was originally slated for development into a campus and that those plans are probably on the back burner while they defend themselves.

Apparently, from documents released yesterday, Microsoft offered $40 per share for Yahoo! back in January and management estimated that a Microsoft takeover could translate into a 15% or 30%  reduction in Yahoo workforce. Yahoo is now faced with a barrage of complaints from disgruntled investors, with big boys Carl Icahn, Daniel Loeb, and Boon Pickens in for a fight to oust the current board and replace them with a more Microsoft-Merger friendly group.

It will be intersting to see what happens.

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