Yahoo Directors Re-elected by Wide Margin

TechnologyYahoo Directors Re-elected by Wide MarginYahoo Directors Re-elected by Wide MarginThe Associated PressYahoo's board emerged largely unscathed from the Internet company's annual meeting Friday as a subdued crowd of shareholders raised few questions about the directors' rejection of Microsoft's $47.5 billion takeover bid. (Aug. 1)Yahoo's shareholders re-elected the company's entire board at the company's annual meeting. The move came despite shareholder anger over the directors' rejection of a Microsoft's 47.5 billion takeover bid.About 85 percent of the shareholders supported CEO Jerry Yang and nearly 80 percent supported Chairman Roy Bostock. Outside the meeting, there was optimism that a deal can still be reached between the two companies. [Notes:SOT Eric Jackson, Yahoo Shareholder.] ULTIMATELY WHAT I THINK WILL HAPPEN IS THAT MICROSOFT WILL BUY YAHOO. I STILL THINK THAT THIS IS AN OINCREDIBLE COMPANY WITH INCREDIBLE ASSETS AND I THINK THAT MICROSOFT IS NOWHERE WHEN IT COMES TO THE INTERNET AND THEIR LAST QUARTERLY RESULTS SHOW THAT. Much of the drama was sucked from the meeting last month when Yahoo reached a truce with Carl Icahn. The activist investor had been waging a campaign to oust the board for spurning the Microsoft bid. Icahn will join Yahoo's board next week. Yahoo's biggest challenge still lays ahead, given that its stock price is just slightly above where it stood six months ago when Microsoft first announced its unsolicited takeover offer. ___ ___, The Associated Press.(****END****) ANCHOR VOICE:-------------------------

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: AssociatedPress

Length: 01:11
Rating: 5.00
Views: 1059

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