Yahoo Regains Most Session Losses as Board Defends Microsoft Dealings
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[August 01, 2008]

Yahoo Regains Most Session Losses as Board Defends Microsoft Dealings

(Midnight Trader Via Acquire Media NewsEdge) Boston, Aug 01, 2008 (MidnightTrader via COMTEX News Network) --

Yahoo! Inc. (YHOO) is close to regaining all of its session losses as management faces down critics at its much anticipated shareholder meeting.

The stock is currently down fractionally (0.25%) at $19.83 compared with its $19.89 close yesterday. Shares hit a session high of $20.12 at the bell before coming under morning selling pressure.

At the shareholders meeting, Chairman Roy Bostock said Yahoo's board "called the shots" when dealing with Microsoft (MSFT), including Microsoft's $47.5 billion buyout bid as well as attempts to buy Yahoo's Web search business, according to media reports.



Bostock added the Yahoo's board never "resisted" Microsoft's offer. Instead, he claimed that the software giant did not appear to be fully engaged in the negotiations. Microsoft immediately issued a statement denying the account.

Microsoft shares are down just over 1% at $25.46.



Price: 19.83, Change: -0.06, Percent Change: -0.25

Copyright (C) 2008 MidnightTrader.com. All rights reserved.
Unauthorized reproduction is strictly prohibited.

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