We’ve marveled at how Yahoo has been able to stave off Microsoft and Carl Icahn. So, how much was all of that advice and effort worth? $36 million, according to Yahoo’s latest 10-Q, and that doesn’t even include fees for July.
Dealbook: Jerry Yang and his fellow Yahoos have spent plenty of time and energy in recent months dealing with Microsoft‘s unsolicited takeover offer and the proxy fight it inspired.
Now, Yahoo has shed some light on how much this upheaval has cost in actual dollars and cents — specifically, it revealed the fees it has racked up for outside advice from bankers and lawyers.
In a late Friday filing with the Securities and Exchange Commission, Yahoo said it spent $36 million in the first half of 2008 on fees for outside advisers helping it handle Microsoft’s bid, Carl Icahn’s attempt to oust Yahoo’s board (which he recently dropped as part of a settlement) and other, related litigation.
A big part of that money likely flowed to Goldman Sachs, Lehman Brothers and Moelis & Company, the financial firms that have been working with Yahoo as it considered Microsoft’s takeover offer and other strategic alternatives. Skadden Arps Slate Meagher & Flom has been providing Yahoo with legal advice.
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