Shareholder demands Yahoo! Sell search unit to Microsoft
WinInfo | at | by Mike
One of Yahoo!'s biggest investors this week demanded that the company sell its Internet search unit to Microsoft. Ivory Investment Management LP, which owns 21.4 million Yahoo! shares, says that such a move could double the value of Yahoo!.
"We believe a search deal with Microsoft could deliver value to Yahoo shareholders of $24-29 per share, or more than double yesterday's closing price of $12.19," a letter from Ivory managing partner Curtis Macnguyen wrote in a letter to the Yahoo! board of directors.
"We envision a deal whereby Microsoft would acquire all of Yahoo's search assets and enter into a perpetual agreement for Microsoft to be the search provider for all Yahoo properties.