He broached the ideas of both a major transaction and a potential spinoff at a meeting of H.P. directors in April, these people said.
In a telling memorandum Mr. Lipton sent to all his clients last year, he wrote, "There is no need for the board to create a special committee to deal with a major transaction, even a hostile takeover, and experience shows that a major transaction is best addressed by the full board".
"Years ago, at a large law firm, I was working with an older senior partner on a major transaction with a Japanese company.
"This is a major transaction, and an interesting one since it's primarily an acquisition of a Hong Kong-listed company," said Steven Xiang, China managing partner at Weil Gotshal who was involved in Lenovo's $1.2 billion acquisition of I.B.M.'s personal computer business in 2005.
But Mirant's shareholders may prefer the company to be the seller in a major transaction and not a buyer: When Mirant tried to buy NRG two years ago, it sparked a shareholder revolt.
But only on the condition that Yahoo's board of directors is replaced: "We confirm, however, that after the shareholder election Microsoft would be interested in discussing with a new board a major transaction with Yahoo!, such as either a transaction to purchase the "Search" function with large financial guarantees or, in the alternative, purchasing the whole company".
We confirm, however, that after the shareholder election Microsoft would be interested in discussing with a new board a major transaction with Yahoo!, such as either a transaction to purchase the "Search" function with large financial guarantees or, in the alternative, purchasing the whole company.
The company is ready to undertake a "major transaction," Mr. Schneider said in a speech at Bayer's annual shareholders' meeting.
However, Steve made it clear to me that if a new board were elected, he would be interested in discussing a major transaction with Yahoo!, such as either a transaction to purchase the "Search" function with large financial guarantees or, in the alternative, purchasing the whole company.
"We confirm, however, that after the shareholder election, Microsoft would be interested in discussing with a new board a major transaction with Yahoo".
