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Saturday, April 5, 2008

Microsoft Offers Yahoo Board An Ultimatum

In a letter today, Microsoft Chief Executive Steve Ballmer has issued a deadline of 3 weeks to the Yahoo Board to strike a deal or else. “If we have not concluded an agreement within the next three weeks, we will be compelled to take our case directly to your shareholders, including the initiation of a proxy contest to elect an alternative slate of directors for the Yahoo board,” Mr. Ballmer wrote. “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.” I think that he means business...