Yahoo ‘galvanised’ by Microsoft interest
Yahoo! top level personnel have revealed that attention from Microsoft has helped to "galvanise" the company.
Claiming that the offer had been taken very seriously, group chief executive Jerry Yang told the IAB annual meeting in Arizona that the offer had allowed Yahoo! to form a picture of its own value.
The search engine leader was approached by Microsoft for a USD44.6bn (GBP22.6bn) takeover, while ongoing interest from the NewsCorp media group also raised Yahoo!’s stock.
Yang said: "Everyone has read what we’re doing, so there’s not much to report. We have taken the proposal Microsoft delivered to us very seriously. We made a public statement why we haven’t accepted the proposal.
"In many ways it has been a galvanising event for all of Yahoo! Our board, which has been a very independent board, is spending a lot of time understanding our alternatives."
