Thursday, June 05, 2008

Yahoo 'sabotaged' Microsoft deal

A billionaire Yahoo shareholder has claimed the Yahoo board deliberately "sabotaged" Microsoft's bid to buy the internet company.

Investor Carl Icahn claimed the board went to "inordinate lengths" to prevent the $47.5bn (£24bn) merger deal with Microsoft going ahead.

Mr Icahn has said he wants to remove the Yahoo board.

But Yahoo reiterated that it would have agreed a deal if it had been in the best interests of its shareholders.

“To that end, Yahoo has engaged in extensive discussions with Microsoft over the last several months, culminating in Microsoft's decision not to pursue an acquisition of Yahoo," the internet company said in a statement.

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