Yahoo board shaking up Yang's control
New chairman Roy Bostock and other board members are trying to make Jerry Yang see the inevitability of a Microsoft takeover.
The choice boils down to either taking as good a bid as possible from Microsoft and cashing out, which as Doug Caverly pointed out to me would profit Yang and David Filo in the nine to ten-digit range, or wait for the fleet of cargo planes bearing shareholder lawsuits to start dropping their payloads all over Yahoo’s Sunnyvale campus.
Now the New York Post reports Yang has to deal with an insurrection in the ranks of the board while trying to repel Steve Ballmer from the gates:
According to one source close to the situation, “The emotional part of Yang would rather do anything but sell to Microsoft, but he doesn’t have the cards to come up with a value-creating, competitive alternative for shareholders.”
“While Yahoo!’s board has a fiduciary duty to maximize shareholder returns, running the risk of derailing a deal is dangerous to Yahoo! shareholders,” said Jefferies analyst Youssef Squali.
Gee, ya think?