• MarketWatch, Friday, May 14, 2010 2:54 PM

Yahoo this week won approval from local officials to build its new 3 million-square-foot office campus in the heart of Silicon Valley. Yahoo acquired the properties for the proposed Santa Clara campus as part of a $112 million purchase during brighter day in 2006. Since 2008, however, the company has faltered following an unsolicited takeover bid from Microsoft, and mounting competition from upstarts like Facebook.

According to MarketWatch, the company is presently engaged in an "ongoing turnaround effort. Under chief executive Carol Bartz, the company has sought to streamline operations, while easing investments in search and bolstering its display advertising business. The new campus is expected to include thirteen six-story buildings, which resemble "rival Google Inc.'s stately headquarters situated less than 10 miles away," according to MarketWatch. According to public documents, the proposed campus could accommodate some 12,000 employees.

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