sourceMicrosoft Corp. sent a letter to the Yahoo Board of Directors Saturday setting a three-week deadline for moving forward on its more than $40 billion buyout offer.
The letter signed by Microsoft CEO Steve Ballmer said Microsoft will take its case directly to Yahoo shareholders and work to elect a new slate of directors, if the board doesn't respond by the deadline by April 26.
The bid to buy Yahoo was made in January and announced Feb. 1.
At the time, Microsoft offered $44.6 billion, or 62 percent above Yahoo's market value. The deal is currently valued at about $41 billion, based on Friday's closing share prices.
Microsoft To Yahoo: You've Got 3 Weeks
Microsoft To Yahoo: You've Got 3 Weeks
Yahoo may as well do it and get it over with as they are not going anywhere as it is now.
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YARDofSTUF
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YARDofSTUF
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In short, either Microsoft pays more for a peaceful takeover, or prepares itself for a Corporate War !The Board of Directors of Yahoo! Inc., today sent a reply to Steve Ballmer, Chief Executive Officer of Microsoft Corporation.
The response letter states "At the same time, we have continued to make clear that we are not opposed to a transaction with Microsoft if it is in the best interests of our stockholders. Our position is simply that any transaction must be at a value that fully reflects the value of Yahoo!, including any strategic benefits to Microsoft, and on terms that provide certainty to our stockholders."
The letter also states : "We consider your threat to commence an unsolicited offer and proxy contest to displace our independent Board members to be counterproductive and inconsistent with your stated objective of a friendly transaction."
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I hope Bill Gates tries to take Yahoo to court because the U.S. government has already slapped him once for being a bully and they will do it again. I cant stand people like him. He has made many mistakes in his time and always tries to fix them by pushing people around.Sava700 wrote:In short, either Microsoft pays more for a peaceful takeover, or prepares itself for a Corporate War !
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YARDofSTUF
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Hate him all you want but didnt he step down as the head guy?jasonb31 wrote:I hope Bill Gates tries to take Yahoo to court because the U.S. government has already slapped him once for being a bully and they will do it again. I cant stand people like him. He has made many mistakes in his time and always tries to fix them by pushing people around.
MS will have Yahoo one way or another..they may as well give up.
http://www.reuters.com/article/technolo ... 1420080424Microsoft is considering launching a hostile bid for search provider Yahoo as early next week if Yahoo does not begin talks soon, Chief Financial Officer Chris Liddell said today. Liddell repeated a threat by Chief Executive Steve Ballmer on Wednesday to withdraw Microsoft's $31 a share cash and stock offer if Yahoo does not start negotiating. According to the CFO, Yahoo management has "unrealistic expectations" of its value. "We have been clear that speed is of the essence to make sense," he told investors on a conference call to discuss quarterly results.
