Microsoft's Yahoo! Bid Still Up In The Air
May 1, 2008 at 5:32 AM (PT)
MICROSOFT's board of directors concluded its meeting last night without reaching a decision on the software giant's next move in its $42 billion takeover battle with Internet icon YAHOO!, which is among the top music and radio streaming sites on the Internet. THE NEW YORK POST reports the range of options open to MICROSOFT and its CEO STEVE BALLMER include raising his current offer for YAHOO!, taking it directly to shareholders or walking away from the deal altogether.
The two sides had made progress on some terms of a merger about 11 days ago at a meeting in PORTLAND OR, but the talks did not include negotiations on the price of a transaction, sources familiar with the situation said.
Those talks ended abruptly when the MICROSOFT camp, including BALLMER, became steamed after one of YAHOO!'s advisers mentioned that the company was worth $40 a share -- or about $14 billion more than MICROSOFT's offer, source said.