Microsoft to get tough with Yahoo
Posted in: Miscellaneous at 30/04/2008 08:04
- Predator ready to launch proxy battle
- Poison pill may make web firm hard to swallow
Wall Street expects Microsoft to enter a protracted period of "trench warfare" in its attempt to buy Yahoo after the failure of its three-month-long attempt to bring the online company's board to the negotiating table.
It is expected to launch a proxy battle and try to oust the Yahoo executive team while encouraging investors to accept its original $31-a-share offer, with the first shot fired possibly as early as this week.
Steve Ballmer ready to demand date from Yahoo!
Steve Ballmer, Microsoft's chief executive, will decide this week whether to step up his campaign against Yahoo! and is likely to nominate an alternative board of directors and demand that its target set a date for its annual meeting.
The software giant, which has failed to bring Yahoo! to the table after its $41 billion (£20.6 billion) hostile bid, has signed up "credible, independent" nominees to negotiate a takeover.
No Break in the Standoff of Microsoft and Yahoo
The deadline that Microsoft imposed on Yahoo to reach a negotiated merger agreement passed three days ago, and the two companies are still not talking.
At a conference at Microsoft's headquarters in Redmond, Wash., its general counsel, Bradford L. Smith, said no meetings had been scheduled between the two companies.