TITLE

Hedge Fund to Yahoo: Cut Search Deal

AUTHOR(S)
Schachter, Ken
PUB. DATE
December 2008
SOURCE
Red Herring;12/10/2008, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the hedge fund Ivory has urged Yahoo to sell the Internet company's search business to Microsoft for an estimated $15 billion, or $9 billion after tax. The hedge fund has a 1.5 percent stake in Yahoo. The open letter from Ivory claims that "there are no other viable strategic options," available to Yahoo and the offer comes at a time of vulnerability for Yahoo. Ivory said that by its calculations a search deal with Microsoft would deliver to shareholders value of $24-29 per share.
ACCESSION #
36602787

 

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