Yahoo on Wednesday sent a letter to its shareholders justifying its deal with Google, saying it will enhance the company's profitability and provide more shareholder value than the offer put forth by Microsoft to invest in Yahoo's search business.
The deal with Google will generate US$250 million to $450 million in incremental operating cash flow for Yahoo in the first year, Yahoo Chairman Roy Bostock and CEO Jerry Yang wrote in the joint letter.
Together, Google, with a 61.8% share and Yahoo, with 20.6%, own 82.4% of the U.S. search market, according to comScore's latest monthly report.
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on Friday, September 26, 2008
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