Yahoo!’s Bill For Microsoft Acquisition Bid Advisory Team: $36 Million

In the last 8 months, Yahoo! Inc. (NASDAQ:YHOO) has had to deal with Microsoft Corporation (NASDAQ:MSFT) and Carl Icahn.  A lot of time and money has been spent figuring out a solution to Microsoft’s unsolicited bid.  Coming up with a solution required spending time with banks and lawyers.

In a filing with the S.E.C., Yahoo! stated that $36 million was spent in the first two quarters of 2008 to hire outside advisers in dealing with Icahn and Microsoft.  A good amount of that cost was most likely paid to Moelis & Company, Goldman Sachs Group, Inc. (NYSE:GS), and Lehman Brothers Holdings Inc. (NYSE:LEH).  Skadden Arps Slate Meagher & Flom was Yahoo!’s team of legal eagles.

According to The New York Times DealBook, the $36 million does not include the fees charged for the 2008 Annual Shareholders meeting on August 1 where Yahoo!’s board persuaded shareholders to vote for keeping the current board.  The $36 million also does not include the “sunk time” and “pure distraction” spent dealing with the situation.

Related Links:
1. paidContent
2. Yahoo! 10-Q filing via SEC

Related posts:

1. Yahoo! Turns Down New Microsoft Deal (Search Acquisition, New Board)
2. Report Indicates Yahoo! Was Planning To Turn Down Google Ad Outsourcing, One Day Before The Microsoft Bid
3. The Microsoft & Yahoo! Saga Isn’t Over Yet
4. Yahoo! May Have Gotten Away From Microsoft, If It Wasn’t For That Meddling Icahn!
5. Rumors Of Yahoo! Acquisition Talks Reappearing Send Yahoo! Stock Up 5%