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2008/08/04

Yahoo board investor wins vote

Yahoo board investor wins vote Yahoo shareholders voted in favour of the re-election of the Board of Directors, after he had defended the management of negotiations with Microsoft about a possible transaction.
CEO Jerry Yang won the support of 85% of investors at the annual meeting of Yahoo in California.
Some investors, the lack of agreement on an agreement with Microsoft, to buy the company offered Internet-$ 47.5bn (£ 24.1bn).
At the meeting, a call for Roy Bostock president resign.
Eric Jackson Iron Fire shareholder capital - one of the 150 investors in the meeting - said Mr. Bostock "should be the cause of Mr and not the board."
He accused the chief of Yahoo overplaying hand with Microsoft.
In response, Mr Bostock said that there was a "big misunderstanding" with regard to relations with the software giant Yahoo.
"The Board monitors the process of treatment with Microsoft since the beginning," said Mr Bostock of the meeting.
"We are calling the shots."
Almost 80% of shareholders voted for his re-election.
An investor is not at the meeting billionaire Carl Icahn, has threatened to try to make the Council to replace the AGA.
He changed his mind two weeks ago, after Yahoo and offered two of its candidates for the post enlarged Yahoo board.
Microsoft's offer to buy Yahoo, initially in January market, and finally the negotiations in May after Yahoo rejected an improved offer.

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