|
San Francisco: Microsoft Corp. is once again trying to team up with Yahoo Inc. to challenge internet search and advertising leader Google Inc., although at this point the renewed talks haven't escalated to another attempt to take over Yahoo.
The Washington-based software maker disclosed the revived discussions on Sunday without providing any specifics about the nature of the deal being explored except to say it involved bolstering the companies' position in the online search and advertising markets.
The statement said, "There of course can be no assurance that any transaction will result from these discussions."
In a statement late on Sunday, Yahoo said its board is exploring several "value maximising" alternatives and "we remain open to pursuing any transaction which is in the best interest of our stockholders."
Microsoft emphasised that it hasn't resurrected a $47.5 billion takeover bid that its chief executive, Steve Ballmer, withdrew on May 3 after Yahoo CEO Jerry Yang, acting on behalf of Yahoo's board, demanded an additional $5.5 billion.
But Microsoft left open the possibility that it might dangle another buyout offer of Yahoo, depending on how the discussions progress between the two companies and their respective shareholders.
Yahoo is facing intense pressure from its shareholders to reopen sales negotiations, with activist investor Carl Icahn threatening to replace the Sunnyvale, California-based company's entire board unless a deal can be worked out before Yahoo's July 3 annual meeting.
Microsoft's latest talks with Yahoo could be aimed at providing an alternative to a search advertising partnership that Yahoo has been exploring with Google as part of its attempts to remain independent.
|
