Tag - Buyout
In a surprise ruling by the Delaware Court of Chancery, a judge has overridden "the market" and has declared that the board of Dell sold the company for $6 billion too little. Vice Chancellor J. Travis Laster ruled in favor of protesting shareholders, and has ordered the company to pay the complainants their portion of the difference -- and opens the door for a wider class-action suit by the remainder of the company's shareholders on record when the company went private.
On Sunday, Apple confirmed that it had acquired precision global positioning company Coherent Navigation, a small business that worked on military-grade precision navigation systems, robotics, and autonomous navigation technology. Terms of the deal were not disclosed. Coherent, which was founded in 2008, "focused on creating commercial navigation services based on partnerships with companies like Boeing and Iridium, the satellite network operator," according to the former CEO's LinkedIn page.
The Department of Justice lawsuit against the proposed AT&T buyout of T-Mobile has finally received a solid schedule, with trial proceedings to officially begin on February 13. Judge Ellen Huvelle allocated six weeks for the trial, however lawyers representing both sides reportedly claimed that such a length would not prove necessary.
Google on Thursday officially confirmed its acquisition of the VoIP company Gizmo5. Unnamed sources leaked the information earlier this week, including the alleged $30 million price tag. The startup initially had been eyed by Skype, however the deal never materialized.
Yahoo's top executive, CEO Jerry Yang, could resign to avoid a forced departure ahead of a decisive shareholders meeting on August 1st, according to new
Yahoo's board of directors has taken a beating after the Microsoft buyout fiasco, with many leaving their positions as the company looks to restructure its business. The Wall Street Journal writes that Jeff Weiner, Vish Makhijani, Qi Lu, Usama Fayyad, Stewart Butterfield, and Caterina Fake are among those listed who will leave the company, with some saying they are looking for better opportunities with Russian search engine Yandex, and other destinations.
Microsoft appears to be siding with a hostile takeover approach to the current Yahoo situation, an insider revealed late Thursday. According to The Wall Street Journal, Microsoft has yet to give an official word either way, but could come to a final decision tomorrow. Microsoft CEO Steve Ballmer is faced with either pursuing hostile negotiations or backing away from the deal, as Ballmer himself admits that "the right circumstances" need to be present for it to happen.
Microsoft head Steve Ballmer has yet to come to a decision regarding the impending Yahoo takeover, as even his closest lieutenants are left wondering what he plans to do regarding Yahoo's silence. According to The Wall Street Journal, Ballmer's threats remain stagnant due to his unpredictable nature, leaving many in the industry questioning whether he plans to follow through with replacing Yahoo's board through its investors.
With little incentive to continue selling PowerPC-based chips, the US Department of Defense may plead its case against Apple following the announcement of the $278 million buyout of startup chipmaker PA Semi. The acquisition appears to be focused on the company's intellectual property and talent for reducing chip power consumption rather than its products, the report notes. Last week, the EETimes said that Apple may have to face the ire of the U.S. Department of Defense following its planned acquisition, as its customers expect Apple to end-of-life its current chips that are used in a wide variety of military devices.
Guy Kawasaki recently sat down with Microsoft CEO Steve Ballmer to talk about the Yahoo buyout offer, as well as the company's competition with Google and Apple. According to eWeek, Kawasaki wondered if Ballmer felt that Apple was like a little dog, biting at his heels that he had to kick away every day. Ballmer retorted that he did not, saying that both Apple and Microsoft do a "pretty good job", but ultimately, Microsoft has more of a "footprint" than Apple does.