Yahoo says it needs time to mull Microsoft offer
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Yahoo Inc  said it may take  "quite a bit of time" to weigh its strategic options, including  keeping the company independent, following Microsoft Corp's   $45 billion offer to buy the company.
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Microsoft CEO Steve Ballmer rebuffed&#160;Google&#39;s accusations&#160;that an acquisition of Yahoo would be anticompetitive.The bid was made public Friday, prompting the response from Google over the weekend. Ballmer Monday at a news conference ceded ground to Microsoft&#39;s arch rival in order to justify his company&#39;s&#160;$44.6 billion cash-and-stock offer for Yahoo,&#160;which if accepted would fall under the scrutiny of U.S. and European regulators.&quot;Google&#39;s clearly got a dominant position,&quot; Ballmer said. &quot;They have about 75 percent of paid search worldwide. We think this enhances competition and anything else would be less good.&quot;A Google executive struck back at Microsoft on Sunday, charging that a combined Microsoft and Yahoo would control an overwhelming share of e-mail and instant-messaging accounts as well as portal traffic.David Drummond, senior vice president of corporate development and chief legal officer at Google, further suggested that if Microsoft buys Yahoo it might try to unfairly use its dominance in those areas, just as it did in the PC market.Monday&#39;s news conference, in which Ballmer spoke with Chief Financial Officer Chris Liddell, appeared to put further pressure on Yahoo&#39;s board to accept the offer, which at $31 a share represents a 62 percent premium over Yahoo&#39;s closing price last Thursday.&quot;We think it&#39;s an extremely competitive offer,&quot; Liddell said.In a Monday filing with the U.S. Securities and Exchange Commission, Yahoo disclosed an e-mail sent on Friday by CEO Jerry Yang and Roy Bostock, non-executive chairman of Yahoo&#39;s board. &quot;First, we want to emphasize that absolutely no decisions have been made and, despite what some people have tried to suggest, there&#39;s certainly no integration process under way,&quot; the e-mail read.Ballmer continued with a hard push as to how a deal with Yahoo will let Microsoft move faster in building out areas such as search, online services and online advertising.&quot;We are going to have to innovate like crazy,&quot; Ballmer said.But he also stressed how long it could take for a Yahoo deal to eventually benefit shareholders. Ballmer said he looks at whether investments will pay off five to 10 years down the line, but investors often want to see results in three years.&quot;Sometimes those investments look smart, sometimes it takes a while for them to pay off,&quot; Ballmer said.
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Yahoo! must consider the Microsoft deal on the table.
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If Yahooâs board resists the offer, Microsoft would have to pursue a proxy contest.
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Yahoo Inc   rejected Microsoft Corp's  unsolicited $41.6 billion  takeover offer as too low on Monday, forcing the software maker  either to sweeten the bid or adopt a hostile approach to clinch  a deal.
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Microsoftâs proposed mega-bid for Yahoo is based on its own particular corporate needs and may not be a harbinger of rampant deal-making in Silicon Valley.
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Yahoo Inc insiders are mulling ties to rival Google Inc as a possible defense to rebuff Microsoft Corp's takeover bid, a person familiar with Yahoo management's thinking said on Sunday.
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A major investor in Yahoo Inc   has met with Microsoft Corp  Chief Executive Steve  Ballmer to see if he would raise a $42 billion unsolicited  offer for the company, the New York Post reported on Friday.
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Microsoft Corp on Friday said it had offered to acquire Yahoo Inc in a proposed cash and stock deal valued at $44.6 billion.
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Yahoo's  board members are  formally discussing Microsoft Corp's  $42 billion  unsolicited offer for the company and have scheduled an  in-person meeting for next week, the All Things Digital blog  reported on Friday.
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Yahoo!'s board weighs its options for responding to Microsoft's $44.6 billion offer.
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Microsoft Corp. is getting ready to take its bid for Yahoo right to the Web portal's shareholders, even as analysts wait for a higher offer.
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From Yahoo!'s perspective, the deal needs to be done, but Microsoft could have done better.
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Yahoo Inc. is set to reject Microsoft  Corp.'s offer, initially worth $44.6 billion, as undervaluing  the business, a source familiar with the situation said on  Saturday.
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Many Yahoo shareholders are waiting for a higher bid than that offered by Microsoft, but analysts say it is increasingly unlikely.
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Rupert Murdoch's News Corporation is in talks with Yahoo about a possible deal, according to a press report.
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Yahoo looks for alternatives to Microsoft's unsolicited $44.6 billion takeover bid, according to a report in the Los Angeles Times.