Some of Yahoo's shareholders are making their desire for a union with Microsoft known, although they think getting a better deal would be nice too.Bill Miller, an investment officer at asset management firm Legg Mason--Yahoo's second-biggest investor--wrote in a quarterly letter to investors that "It will be hard for (Yahoo) to come up with alternatives that deliver more value than [Microsoft] will ultimately be willing to pay," Miller wrote. He went on to say that Yahoo is in a "tough spot."
Nevertheless, Miller also urged Microsoft to increase its bid. He estimated Yahoo's value at near $40 per share, while Microsoft's original offer was $31 per share.
Further pressure to complete a deal has come in the form of the first shareholder suit against Yahoo. The Wayne County [Michigan] Employee's Retirement System of Michigan, which owns about 13,600 shares of Yahoo, has sued to force Yahoo to consider takeover offers--particularly Microsoft's. "We want the board to be responsible and to take this offer seriously, review it appropriately, and respond appropriately," said David H. Fink, a lawyer representing the retirement system. "Just saying no is not an appropriate response."Yahoo News, InformationWeek
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.