Very Angry' at Yang} 

Gordon Crawford, whose Capital Research Global Investors owned 6.2 percent of Yahoo as of early June, said in May he was "extremely angry" at Yang over the breakdown of talks with Microsoft.

His fund

 
 
By Eric Auchard, Reuters  |  Posted 2008-08-06 Print this article Print
 
 
 
 
 
 
 


itle='Very Angry' at Yang} 

Gordon Crawford, whose Capital Research Global Investors owned 6.2 percent of Yahoo as of early June, said in May he was "extremely angry" at Yang over the breakdown of talks with Microsoft.

His fund asked for a shareholder vote recount on Monday.

Critics of corporate voting technology have called for a system overhaul to prevent such disputed ballots, saying the counting process is complicated and lacking in transparency.

In a statement, Broadridge acknowledged the error, but said it was an isolated incident and that it did not change the outcome of the election of the company's directors.

"Upon review, it was determined that there was a truncation error in the final printout sent to the tabulator," said Chuck Callan, Broadridge's senior vice president of regulatory affairs. "This resulted in the under-reporting of shares withheld for certain directors."

Shares of Yahoo had gained 2.3 percent to $19.82 in regular trading on Nasdaq amid gains in the broader market but edged down 3 cents to $19.79 in extended trade after the announcement of the revised vote totals.

RBC's Sandler said the investor saga was likely to drag on for the next several quarters until the company concludes its previously announced partnership with Google Inc, reaches a deal with Microsoft, or sells one of its Asian properties to help the company remain independent.

"For the next several quarters there is going to be more noise, especially with the stock below $20," Sandler said.

Microsoft backed out of an unsolicited takeover offer in May that valued Yahoo at about $33 a share in stock after Yahoo management rebuffed the offer. Microsoft later pursued a partial break-up of Yahoo, but those talks have also cooled.

(Editing by Ted Kerr and Braden Reddall)

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