John Paczkowski

Recent Posts by John Paczkowski

Do You, uh, Ya-sue?

And so it begins. Two Detroit-based pension funds have filed suit against Yahoo (YHOO) and its board, accusing them of placing “personal distaste for Microsoft (MSFT) ahead of shareholder welfare.”

“Yahoo’s directors cannot ‘just say no’ indefinitely to legitimate acquisition offers when the effect of that decision is to deny shareholder choice in the face of [a] noncoercive and economically beneficial bid–especially where, as here, the bid may yet be improved through negotiations,” the suit by Detroit’s Police and Fire Retirement System and General Retirement System argues. “The Yahoo board, in its desperation to pull off a ‘Just say no to Microsoft’ defense, is fighting off a noncoercive 62% premium offer by pursuing all manner of value-destructive third-party deals.”

This is the second shareholder suit to be filed in relation to Microsoft’s bid for Yahoo. Earlier this month, the Wayne County Employees Retirement System sued Yahoo in a Michigan court in the hopes of forcing it to consider Microsoft’s offer.


Twitter’s Tanking

December 30, 2013 at 6:49 am PT

2013 Was a Good Year for Chromebooks

December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald