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Saturday February 28, 2009

Yahoo Paid $79 Million in Anti-Microsoft Efforts

In a filing with the SEC on Friday, Yahoo says they spent $79 million in their efforts not to merge with Microsoft last year. They sure spent a ton of money on “outside advisers.” Maybe they should keep some of these folks around for the inevitable next takeover attempt.

Part of the $79 million bill was also attributed to hiring outside advisers for fighting off a proxy contest by activist shareholder Carl Icahn, who eventually settled with the company and received three seats on Yahoo's board.

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