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Yahoo Remains Undecided

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Yahoo Remains Undecided

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Yahoo has yet to move off the dime after a board meeting today reportedly by telephone in which it reviewed its options in the face of Microsoft’s hostile week-old $44.6 billion bid for the company.

Officially Yahoo won’t even confirm the phone call but according to what has leaked to the press, the board is supposed to meet again face-to-face all day Wednesday, ironically – and maybe prophetically – the day before Valentine’s Day.

Meanwhile, indulging perhaps in a bit of “rabbi shopping,” Yahoo is supposed to have whistled up some more financial advice

The Financial Times says it has hired Moelis & Company, which advised billionaire Yahoo director Ron Burkle last year in his failed attempt to acquire the Tribune newspaper group.

Earlier reports claimed Yahoo’s other advisors, Goldman Sachs and Lehman Brothers, are telling it to accept the Microsoft deal.

And the Wall Street Journal, quoting unnamed sources, claims that Yahoo CEO Jerry Yang didn’t present the option of ditching Yahoo’s own search-advertising system and using ads from Google in return for most of revenue as a “preferred choice.”

That widely touted idea is regarded as catnip to regulators who are likely to quash such an arrangement because of Google’s dominant position in online advertising.

That only leaves pressing Microsoft for more money and Capital Research and Management, which owns 11% of Yahoo and 6% of Microsoft, is supposed to have sounded out Microsoft CEO Steve Ballmer about the possibility of a sweetened offer, according to the New York Post.


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