It's a drop in the bucket compared to all the other suffering Yahoo! Corp. (NASDAQ:YHOO) went through in 2008, but we now know what the company spent on legal and financial advice last year.
In its
annual report filed with the Securities and Exchange Comission late Friday, Yahoo! said it spent $79 million on outside advisers in connection with Microsoft Corp.'s (NASDAQ:MSFT) proposal to buy the company. Part of the money also went to hammering out a Google Inc. (NASDAQ:GOOG) search agreement, which ultimately fell apart, and the proxy fight waged by Carl Icahn that led to him
getting three seats on the Yahoo! board.
Yahoo!'s filing also said it spent a net $209 million in cash on acquisitions and strategic investments in 2008, including its $106 million
acquisition of online video company Maven Networks Inc. The company said it spent $974 million in 2007 and $142 million in 2006.
- Olaf de Senerpont Domis
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