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Old 02-24-2008
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Default Impending Microsoft / Yahoo deal

Here is a interesting aspect of Microsoft's [hostile] takeover of Yahoo. A public corporation owes if allegiance to shareholders only. So action taken by Yahoo executives to stop the deal maybe in serious question. This issue has already raised in courts, more details below.



Quote:
Two U.S. pension funds have sued Yahoo Inc. and its board of directors, saying they breached their duties to shareholders in trying to thwart a takeover by Microsoft Corp. The lawsuit was filed in Delaware Chancery Court on Thursday by lawyers representing Detroit's police and fire retirement system and general retirement system, as well as
http://www.aol.com.au/news/story/2-U...761/index.html
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