Yahoo! Postpones Shareholder Meeting
Yesterday Yahoo! decided to postpone a shareholder meeting.Â The postponement is most likely because the company needs more time to negotiate a sale to Microsoft, prepare for defense, and work with Carl Icahn to settle down with deciding a new company Board.
The original date set for the shareholder meeting was July 3, but now it is set for later in July.Â And this is the second time that Yahoo! postponed the meeting.
Here is a quick summary of what happened with Yahoo! and Microsoft and Icahn.Â Going forward, this timeline will be attached with the saga between Yahoo!, Icahn, and Microsoft.
June 2007: Former Yahoo! CEO, Terry Semel Resigns, Jerry Yang steps up
July 2007: Yang makes a 100 day plan to get Yahoo! off the ground again
February 1, 2008: Microsoft makes an unsolicited offer to Yahoo! for $44.6 billion
February 9, 2008: Yahoo! passes on Microsoft offer
February 11, 2008: Rumor is that Yahoo! may merge with AOL
February 12, 2008: Microsoft CEO, Steve Ballmer sends a letter to Yahoo! “Microsoft reserves the right to pursue all necessary steps to ensure that Yahoo!â€™s shareholders are provided with the opportunity to realize the value inherent in our proposal.”
February 13, 2008: Layoff notices are given at Yahoo! Ryan Kuder Twitters the entire event
April 4, 2008: Rumors begin to appear that Microsoft is deciding to pull the offer
April 5, 2008: Microsoft sends a letter to Yahoo! stating that they may work out a separate deal with shareholders if a decision isn’t made.
April 7, 2008: Yahoo! Announces their AMP! advertising platform and stated that they want more money from Microsoft
April 10, 2008: Rumors appear that News Corp. AOL, and Google all want to arrange deals with Yahoo!
April 12, 2008: Capital Research & Management invests $2 billion more in Yahoo! shares giving them ownership of $6 billion worth of the company
April 30, 2008: Rumor appears Microsoft increases the amount that they’re willing to spend
May 4, 2008: Microsoft walks away from the negotiation table after YahoO! demands too much of a high price for Microsoft
May 4, 2008: Yahoo! responds by saying that through this experience, Yahoo! emerged as a stronger, more focused company
May 7, 2008: Yahoo! & Google become more serious about Google Ads appearing on Yahoo!
May 14, 2008: Major Yahoo! shareholder, Carl Icahn steps in and calls the Yahoo! Board irrational
May 20, 2008: Microsoft makes an offer to buy Yahoo!’s Search Advertising Business for an undisclosed amount
May 23, 2008: Yahoo! Director, Edward Kozel resigns to “spend more time with family”
May 23, 2008: Yahoo! postpones shareholder meeting for the second time