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Executives at internet content firm Yahoo! Inc. have not officially decided to sell the company at this time and news of a possible “special dividend” payment or a stock buyback program caused the company’s shares to fall on Monday, leading to the biggest Yahoo! share drop since August 4.
Shares on Monday declined by 5.6 percent to $15.64 after surging by 28 percent since the company’s board of directors fired CEO Carol Bartz.
Yahoo! Inc. Co-Found Jerry Yang announced on Oct. 20 that the company wasn’t necessarily on the selling block, speaking at the All Things Digital Asia conference at that time Yang said:
“The intent going in is not to put ourselves up for sale.” Yang added, “The intent is to look at all options. There’s plenty of options for the board, and plenty of options for our shareholders to realize value.”
It should be noted that September 26, 2011 Yang sent out a memo alerting employees to the likely sale of Yahoo! Inc., a statement that now appears to be more of a possible warning then a definitive sale alert.
If Yahoo does not sell a majority stake the may still offer a minority share to raise capital and take on a new partner.
Yahoo spokespeople are refusing to comment on the company’s current direction.
