Court Documents: Microsoft Allocates $1.5 Billion For Yahoo Employee Retention
Court documents cited by the Wall Street Journal (also CNET) show that Microsoft has set aside $1.5 billion to retain Yahoo employees in the event of a successful takeover. This is apparently not tied to the generous “poison pill” severance packages that Yahoo put in place in the event of a Microsoft acquisition.
The statement was made by Microsoft attorneys in the context of a court hearing filed by pension funds invested in Yahoo, which have have filed suit alleging that Yahoo’s directors breaded their fiduciary duty in not responding “in good faith” to Microsoft’s offer.
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