Wednesday, April 30, 2008

Yahoo! Finance: Microsoft eyes Yahoo retention plan: court papers

"Microsoft Corp (NasdaqGS:MSFT - News) has considered earmarking $1.5 billion to retain Yahoo Inc (NasdaqGS:YHOO - News) employees if it acquires the company, according to court documents in a shareholder suit filed against Yahoo."

"The $1.5 billion figure was discussed in a communication between the general counsels of Microsoft and Yahoo, and came to light when a lawyer representing Yahoo mentioned the amount in a March 24 hearing in a lawsuit in Delaware Chancery Court.

Edward Welch, the lawyer representing Yahoo, also said during the hearing that 1,000 layoffs Yahoo made in February were the only job cuts the company planned to make. "There are no more reductions in force planned for the future," he said.

Two Detroit pension funds have filed the shareholder action against Yahoo and its board of directors asserting that the Silicon Valley company has failed Yahoo shareholders by not responding in good faith to Microsoft's takeover offer."

1 comment:

Anonymous said...

My friend and I were recently discussing about how involved with technology our daily lives have become. Reading this post makes me think back to that discussion we had, and just how inseparable from electronics we have all become.

I don't mean this in a bad way, of course! Ethical concerns aside... I just hope that as technology further innovates, the possibility of transferring our memories onto a digital medium becomes a true reality. It's a fantasy that I daydream about all the time.

(Posted on HomeBrow for R4i Nintendo DS.)