InternetYahoo Holds Its Ground on Microsoft, Growth Plan

Bostock and other board members face investors angry over a sagging share price and the failed Microsoft acquisition.

Source: Yahoo SAN JOSE, Calif. -- Yahoo tried to soothe angry investors at its annual meeting on Friday, insisting it had been serious about talks to sell itself to Microsoft and that it had good growth prospects in the next three years. Yahoo (NASDAQ: YHOO) Chairman Roy Bostock said the company's board "called the shots" when discussing Microsoft's (NASDAQ: MSFT) proposals, including a $47.5 billion buyout bid as well as attempts to buy Yahoo's Web search business. There was never any doubt that directors were open to a deal with Microsoft, he said, adding that he could not understand why the software maker withdrew its full takeover offer. "There was never a compelling offer put on the table," Bostock said at the meeting at a hotel in San Jose, Calif. "That never occurred in this process." RELATED ARTICLES Yahoo Meeting: Shareholders to Sound Off Icahn Speaks Out on Yahoo Truce Tough Times for Yahoo as Profit Plummets Yahoo, Icahn Declare Cease-fire in Proxy War Yahoo Appeals for Investor Support Microsoft, Yahoo Square Off Before Senate Panel For more stories on this topic: Yahoo shareholders were due to take the floor later in the meeting to ask questions, though a few early comments highlighted the dissatisfaction that has dogged Yahoo's share price since talks about a full Microsoft acquisition broke apart in May. One shareholder said he wanted to know how much time Yahoo directors spent doing... [ Read more on www.internetnews.com ]

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