Yahoo!'s efforts to revive takeover talks with Microsoft Corp. have reached a dead end, prompting the Internet pioneer to hire online search leader Google Inc. to handle some of its advertising sales.Yahoo! is trying to fend off a shareholder mutiny led by activist investor Carl Icahn, who has vowed to replace the company's board because of the way the directors handled the Microsoft negotiations.But Icahn has been hoping to engineer a sale to Microsoft, so some shareholders may be reluctant to support his attempted coup unless he can demonstrate that his slate of directors has a better turnaround plan than the current board.Icahn did not return phone calls seeking comment Thursday. The fate of Yahoo's board is to be determined at the company's August 1 annual meeting.
The news disclosed Thursday caused Yahoo! shares to plunge 10 percent as investors abandoned hope that Microsoft would renew a nearly five-month quest to buy the Sunnyvale, California-based company.
The news disclosed Thursday caused Yahoo! shares to plunge 10 percent as investors abandoned hope that Microsoft would renew a nearly five-month quest to buy the Sunnyvale, California-based company.
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