Yahoo reported on Friday that on Tuesday of last week it unloaded 2.3 million shares of it's Google Inc. stock.
Yahoo dumped its Class A shares at $82.62 apiece and converted roughly another 1 million Class B common shares into Class A stock. The sell price was between $240 million to $259 million.
Yahoo had been awarded 2.7 million as part of the settlement of a pair of lawsuits. According to the AP, in exchange for the 2.7 million shares Google received a perpetual license to Yahoo's patent on matching online advertisements to search results. Yahoo also agreed to drop another lawsuit over warrants to purchase shares that Google granted it under a partnership signed in 2000.
WebProNews | Breaking eBusiness News
Your source for investigative ebusiness reporting and breaking news.
Publish A Comment
| Popular WPN Business Resources |
-

Bruce Clay Debunks Local Search Myths
There are certain myths associated with local search that many... -

Google's Caffeine Live at One Data Center
Back in August, WebProNews first told you about Google's Caffeine... -

Twitter's Terms of Service Spark User Interest
In September, Twitter released its new Terms of Service.
iEntry 10th Anniversary
RSS
Newsletter
Advertising



















