Yahoo!'s case strengthened by profits
E-commerce
23 April 2008
Yahoo!'s positive first quarter profits have proved its success and bolstered the search company against a possible hostile takeover, it has been reported.
The company, headed by Jerry Yang, exceeded the expectations of the US markets and reported a profit of $542 million (£272 million).
Mr Yang made it clear in a conference call yesterday he "will not enter into any transaction that does not recognise the full value of this company".
He said he would continue negotiating for a good deal while remaining flexible: "Our board and management continue to be open to all and any alternatives, including a sale to Microsoft."
Yahoo! is under pressure from Bill Gates' company - the computing firm has issued it with a deadline by which it should enter into take-over talks.
Steve Balmer, chief executive officer, has warned if a decision is not made by Saturday he will launch a hostile bid by appealing to Yahoo!'s shareholders.
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