Tuesday, April 08, 2008
Yahoo has rejected a three-week deadline offered by Microsoft to agree to a 44.6 billion dollar capture, as the fight between the two giant technologies titans heated up. Yahoo anyhow stated on Monday it was open to a sweet bid from the software giant or another bidder also.
"We continue to believe that your proposal is not in the best interests of Yahoo and our stockholders," Yahoo's board chairman Roy Bostock and chief executive Jerry Yang said in a letter to CEO of Microsoft Corporation Steve Ballmer. "We are open to all alternatives that maximize stockholder value. To be clear, this includes a transaction with Microsoft if it represents a price that fully recognizes the value of Yahoo on a standalone basis," the Yahoo letter said.
The letter came in reply to a challenge issued by Microsoft on Saturday for the Internet giant to agree to its 44.6 billion dollar capture offer in three weeks or face a shareholder proxy fight. Analysts said the conflict of the technology giants appeared to be escalating.
"We continue to believe that your proposal is not in the best interests of Yahoo and our stockholders," Yahoo's board chairman Roy Bostock and chief executive Jerry Yang said in a letter to CEO of Microsoft Corporation Steve Ballmer. "We are open to all alternatives that maximize stockholder value. To be clear, this includes a transaction with Microsoft if it represents a price that fully recognizes the value of Yahoo on a standalone basis," the Yahoo letter said.
The letter came in reply to a challenge issued by Microsoft on Saturday for the Internet giant to agree to its 44.6 billion dollar capture offer in three weeks or face a shareholder proxy fight. Analysts said the conflict of the technology giants appeared to be escalating.
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posted by power
@ 9:17 PM
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