Yahoo rejects Microsoft's 'take it or leave it' deal

 

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By Reuters

Posted on 13 Jul 2008 at 17:03

But sources familiar with the matter told Reuters earlier that Icahn would support a partial deal with Microsoft if it guaranteed revenue of at least $2.5 billion a year to Yahoo.

Bostock called it "completely absurd and irresponsible" of Microsoft not to engage with Yahoo's management as it would be a very complex to hive off half the company's business and integrate it into the software maker.

"While this type of erratic and unpredictable behavior is consistent with what we have come to expect from Microsoft, we will not be bludgeoned into a transaction that is not in the best interests of our stockholders," Bostock said.

Microsoft and Icahn were not available for comment.