With Yahoo Inc. recently having to layoff 10 percent of their work force, shareholders have been urging the company to make drastic changes to improve their financial situation. As reported by the Associated Press (AP), Ivory Investment Management sent the company a letter on Wednesday requesting that they make the initiative to close a deal with Microsoft, with whom they previously turned down a substantial offer.
As noted b the AP, Ivory Investment Management owns 1.5 percent of Yahoo stock, and suggested the company persuade Microsoft to agree to a takeover for $15 billion. Members of the organization believe the move will possibly help double Yahoo’s stock price and significantly increase their earning power.
Clayton Moran, an analyst for Stanford Group, was quoted in the report as stating “It’s a very reasonable question for Yahoo shareholders to be asking right now: why the company isn’t talking to Microsoft right now… The pressure should be mounting for them to talk because there is no good explanation for them not to be doing so at this point.”