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Microsoft still keen on Yahoo bid | Microsoft still keen on Yahoo bid |
(30 minutes later) | |
Software giant Microsoft says it would be willing to re-open talks with Yahoo about a possible takeover if the search firm had a new board of directors. | |
Microsoft had offered to buy its rival's search business but was rebuffed by Yahoo last month. | |
A number of investors have criticised Yahoo's decision and urged other shareholders to back a takeover. | |
Microsoft said it could start talks with a newly elected board after Yahoo's August shareholder meeting. | |
The software giant said in a statement it would be interested in discussing two options - buying the "search function with larger financial guarantees" or "purchasing the whole company". | |
Shareholder Carl Icahn is trying to oust Yahoo's board, including the Internet firm's co-founder and chief executive Jerry Yang. | Shareholder Carl Icahn is trying to oust Yahoo's board, including the Internet firm's co-founder and chief executive Jerry Yang. |
US billionaire Icahn, who has amassed a 5% stake in Yahoo, has been in talks with Microsoft over the past week about a possible deal. | |
Yahoo shares rose more than 10% to $23.55 after the news. |