Channel Marker

Apr 6 2008   10:40PM GMT

Microsoft to Yahoo: No more Mr. Nice Guy



Posted by: badarrow
Tags:
Barbara Darrow
Microsoft
News

Microsoft CEO Steve Ballmer has given Yahoo’s board three weeks to accept Microsoft’s $31 per share buyout offer. If Yahoo still does not move, he said Microsoft will put the offer in front of Yahoo shareholders and initiate a proxy fight. He also intimated that Microsoft might revise its $40 billion bid. Downward.

Money quote from Ballmer’s letter dated April 5:

“The substantial premium reflected in our initial proposal anticipated a friendly transaction with you. If we are forced to take an offer directly to your shareholders, that action will have an undesirable impact on the value of your company from our perspective which will be reflected in the terms of our proposal.”

Barbara Darrow can be reached at bdarrow@techtarget.com.

 Comment on this Post

 
There was an error processing your information. Please try again later.
Thanks. We'll let you know when a new response is added.
Send me notifications when other members comment.

REGISTER or login:

Forgot Password?
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Forgot Password

No problem! Submit your e-mail address below. We'll send you an e-mail containing your password.

Your password has been sent to: