A recent financial record from Yahoo has shown it spent $US79 million in fending off partnership advances made by Microsoft.
The company used the money for hiring outside advisers in an attempt to find alternative solutions to the marketing deal.
Yahoo stated in the filing, which was sent to the US Securities and Exchange Commission, that the money was spent on “outside advisers related to Microsoft’s proposals to acquire all or a part of the company, other strategic alternatives, including the Google agreement, the proxy contest, and related litigation defence costs”.
The “Google agreement” references a proposed partnership between Google and Yahoo that failed due to anti-competition investigations. And while the firm successfully rejected Microsoft’s advances, new Yahoo chief executive Carol Bartz may want to return to negotiations as part of the company’s restructure.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
