The New York Times is reporting that people close to the negotiations are saying that Microsoft and Yahoo! have been working for 2 days to get a deal done. Microsoft is apparently softening it's position on raising it's offer. “I know exactly what I think Yahoo is worth to me.” Steve Ballmer told Microsoft employees on Thursday adding, “I won’t go a dime above, and I will go to what I think it’s worth if that gets the deal done.” Microsoft's initial offer was $31 per share, the board of directors at Yahoo! is holding out for $37 but some Yahoo! stockholders have signaled that they would consider $35... the renewed talks seem to indicate that neither side wants a proxy war. You can read more here.
Update: Microsoft has withdrawn it's bid after upping the offer by $5 billion, only to have it turned down by Yahoo! More here.
Update: Microsoft has withdrawn it's bid after upping the offer by $5 billion, only to have it turned down by Yahoo! More here.
