Internet media company Yahoo! (YHOO Quote) on Thursday said its board approved an anti-takeover provision designed to deter "coercive" tactics by which shares of the Santa Clara, Calif, company could be snapped up "without offering a fair and adequate price and terms to all of Yahoo!'s stockholders."
In a statement, Yahoo! said the measure "was not adopted in response to any effort to acquire control of Yahoo!" But at Thursday's closing price of $24.44, Yahoo!'s shares are down about 88% from their 52-week high, and established media conglomerates, including News Corp. (NWS Quote), Disney (DIS Quote) and Viacom (VIA Quote) have been rumored to be interested in acquiring Yahoo! The anti-takeover measure, known as a shareholder rights plan, would grant shareholders the ability to buy one unit of a share of a series of preferred stock for $250 if a person or group gained control of 15% of Yahoo!'s shares.- Loading Comments...
- Loading Comments...
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,226.94 | 1,093.07 | 2,154.06 | 34.86 |
Oil *
77.65
|
|
UP
203.52
|
UP
23.77
|
UP
41.62
|
DOWN
0.17
|
10 Yr
3.49%
SPDR Gold
108.19
|
|
+2.03%
|
+2.22%
|
+1.97%
|
-0.49%
|
Data delayed 20 minutes |














