Microsoft hires firm for proxy fight
Today’s New York Post reports that Microsoft has hired proxy solicitation firm Innisfree after Yahoo spurned its $31/share offer. Microsoft’s move continues to set the stage for a budding proxy fight.
The Post also reports that fund giant T. Rowe Price, proud owner of 18 million Yahoo shares, would be ”very vocal” if Yahoo rejected a raised offer from Microsoft (translation: proxy fight).
Another firm, Capital Research and Management, owns almost 12% of Yahoo and reportedly would approve a raised bid.
