Yahoo Inc. paid $79 million to financial advisers last year to defend itself against an unsolicited buyout bid by Microsoft Corp., according to documents it filed with the U.S. Securities and Exchange Commission.
The records revealed that the company spent $79 million for 2008 for outside advisors related to Microsoft’s proposals to acquire all or a part of the company, other strategic alternatives, including the Google agreement, the proxy contest, and related litigation defence costs.