SAN FRANCISO (AP) -- An influential shareholder advisory firm endorsed the re-election of Yahoo Inc.'s entire board Thursday, reducing the chances that the Internet company's directors will be ousted for spurning Microsoft Corp.'s $47.5 billion takeover bid during the spring.Although the board's response to the now-abandoned offer was "concerning," RiskMetrics ISS concluded that a recent truce with activist investor Carl Icahn should be enough to protect shareholder interests during the next year.
Another shareholder advisory firm, Glass Lewis & Co., is recommending votes against three Yahoo directors -- Chairman Roy Bostock, Ron Burkle and Arthur Kern. The same three were opposed by more than 30 percent of Yahoo shareholders in last year's election.
Glass Lewis targeted the three men this time because they sit on a compensation committee that signed off on an expensive employee severance program shortly after Microsoft made its takeover bid.
Read More
