FTC subpoenas Intel records
Escalating the world’s largest computer chip maker’s legal woes, the Federal Trade Commission has opened a formal probe into Intel Corp.’s sales tactics. The move is a victory for its much smaller rival, Advanced Micro Devices Inc.
Intel disclosed Friday that it has received a subpoena from the FTC for records about Intel’s microprocessor sales, which dominate the world market with a roughly 80 percent share. The FTC’s two-year investigation had been considered “informal” until that point.
Investor suggests Yahoo sales price
Hoping to negotiate a compromise, activist investor Carl Icahn urged Yahoo Inc. to declare it is willing to accept a takeover offer of $49.5 billion – about $2 billion above Microsoft Corp.’s last bid for the Internet pioneer.
Icahn recommended the price tag, which works out to $34.375 a share, in a letter he sent Friday to Yahoo Chairman Roy Bostock.
It marks the first time that Icahn has publicly indicated what price he has in mind as he tries to force Yahoo’s sale to Microsoft before the Sunnyvale-based company’s annual meeting on Aug. 1. If a deal isn’t done before August, Icahn will try to replace Yahoo’s board with a slate of his own directors and fire company co-founder Jerry Yang as chief executive.
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