Yahoo! Drops Suit against Google
Officials at Yahoo! on Monday said it will drop a patent suit versus Google. In return for the reprieve, the latter will render unto Yahoo! extra shares from its planned initial public offering. The upcoming Google IPO is turning out to be more tumultuous than the search firm expected. Analysts have voiced qualms about the true investment worth of its shares, and the firm itself made an admission of an omission that could potentially undermine the sale: Some 23 million shares were issued that weren't registered with securities regulators. Run by Chief Executive Terry Semel, Yahoo! was an early investor in Google before the name became an everyday verb. The two archrivals have left MSN, the search service of Bill Gates' titan Microsoft, in the cyberdust. Google upped the number of shares in the IPO, to 25.7 million from 24.6 million, with the extra shares allotted to Yahoo!