Yahoo facing shareholder fireworks by Lucia Hrusovska

Troubles connected with a company Yahoo Inc continues. As we all know, Yahoo Inc. is an American public corporation and a global Internet services company with a headquarters in Sunnyvale, California. It provides a huge range of different products and services, such as for example Yahoo Mail, Web portal, news or posting. At the first sight it could seem, that such corporation, so influential and popular, can not have any serious problems but a contrary is true in this case. These days the company has to face to a crowd of furious shareholders, who are asking the company Yahoo Inc for an immediate compensation. The shareholders believe, that a harm was brought about to them by a decision of the company to refuse a lucrative offer from the site of another big and mighty company Microsoft Corporation. Yahoo decided to stay independent instead of accepting a $47.5 billion takeover offer, which represents a sum of $33 per a share As a response to the negative attitude of Yahoo corporation to this offer, Microsoft decided to take it back. Yahoo caused itself another difficulties, when accepted this step, as lawyers working for Detroit-based public pension funds decided to sue this company for failing in its duty to act in shareholders' best interests. A possible breaking point could have happened during this weekend, as Yahoo co-founders David Filo and Jerry Yang, who is also a chief executive officer of the Yahoo company, met with a Microsoft Chief Executive Steve Balmer. Steve Balmer raised the takeover offer by $5 billions, which represents more than $3 per share, but Yahoo co-founder was still not satisfied with this offer, refused it again and ask unbelievable $37 per share. So, who knows how the end of this company will finally look like.

related story: http://news.yahoo.com/s/ap/20080506/ap_on_hi_te/yahoo_fallout;_ylt=Aq9czFY4wZYhswXFA867RGYjtBAF

by Lucia Hrusovska for PocketNews (http://pocketnews.tv)

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Edited by: Katarina Zerzanova