Yahoo hopes to appease whining shareholders (specifically Carl Icahn) with a dishy letter that discloses the lame terms of Microsoft's recent offer.
Just a couple weeks ago, Team Redmond offered to put down $8 billion as an investment; plus a billion bucks for the Yahoo search business; and they offered Yahoo an additional take of future search revenue.
"While Microsoft's search-only hybrid proposal may have been helpful to Microsoft, our board and management concluded it would have had a significant adverse impact on Yahoo! strategically, leaving the company without the operational control of search assets and technology we view as critical to our objective of becoming a leader in the converging search and display advertising business," the letter said.
Meanwhile, rumors abound that Microsoft and Yahoo could still get it on. It can't end well, one way or the other.
Photo: Flickr/Yodel Anecdotal
See Also:
- Microhoo Tea Leaf Watch: Proxy Directors Set Free
- Eric Schmidt: MicroHoo Deal Could 'Break' the Internet
- MicroHoo Update: Nothing Says "I Love You" Like Golden Handcuffs
- Yahoo Gets the Message; Scrambles to Make Nice With Shareholders
- Yahoo, Google Reach Ad Outsourcing Agreement
- Yahoo Customers Pan Google Ad Deal
