There are materially superior alternatives to the proposed transaction, and we hope that in addition to supporting one of the alternatives, Michael Dell would participate.
The Board of Directors appears to have dismissed better alternatives for public owners and selected a transaction, which has been publicly derided by shareholders as opportunistic and grossly undervalued, that favors management.
While we also plan to continue exploring alternatives to unlock the value of our Yahoo Japan stake for shareholders, any transaction has to be at a value that makes sense for Yahoo and its shareholders.