Yahoo sued for spurning Microsoft

Two Detroit 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. According to the lawsuit, Yahoo’s board is pursuing “value-destructive” third-party deals in an effort to fight off Redmond, Wash.-based Microsoft, which on Feb. 1 announced a…

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Yahoo Board to Decide Fate of Company Today

Yahoo has scheduled a special board of directors meeting on Friday to determine, effectively, the fate of the company. After a week of hectic negotiating, it’s clear that no one is going to step in with a competing acquisition offer to what Microsoft put on the table last Friday – $31 per share. Softbank, the…

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