Menu
Report: Microsoft board to make Yahoo decision

Report: Microsoft board to make Yahoo decision

Microsoft's board is meeting on Wednesday to decide how to proceed in the company's bid to acquire Yahoo, The Wall Street Journal reported.

Quoting anonymous sources, The Journal reported that the meeting could yield a concrete announcement.

Microsoft's next move is something that all parties with a stake in the deal have been waiting for since Yahoo failed to agree to a deal by Saturday, the deadline Microsoft had set three weeks earlier.

Many observers had expected a reaction from Microsoft first thing Monday morning, but as the silence stretched into Wednesday afternoon, the media speculation mill has gone into overdrive.

The major stumbling block in the negotiations has been the price, which Microsoft is willing to increase to up to US$33 per share, but not to the $35 to $37 range that major Yahoo shareholders, management and board members want, The Journal reported. Microsoft's original cash-and-stock offer, made on Feb. 1 and valued at $44.6 billion at the time, stood at $29.12 as of Tuesday's market close, the paper said.

This week, Microsoft CEO Steve Ballmer has been personally lobbying big Yahoo shareholders so they, in turn, will pressure the board to accept Microsoft's bid, since Microsoft would prefer not to have to launch a hostile takeover, The Journal reported.

In the meantime, Yahoo and Time Warner have continued exploring the possibility of Yahoo merging with AOL in exchange for a 20 percent stake in Yahoo for Time Warner, The Journal reported.

In addition to attempting a hostile takeover, Microsoft has other options, such as raising its bid to a level agreeable to Yahoo's board or walking away, a possibility first floated by Ballmer last week.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags MicrosoftYahoosteve ballmerAOLtime warnerinternational news

Events

Featured

Slideshows

Channel kicks 2021 into gear as After Hours returns to Auckland

Channel kicks 2021 into gear as After Hours returns to Auckland

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Pantry at Park Hyatt in Auckland to kick-start 2021.

Channel kicks 2021 into gear as After Hours returns to Auckland
The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Show Comments