Microsoft hints at Yahoo hostile takeover
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Microsoft said&#160;its $44.6 billion offer to purchase Yahoo&#160;is &quot;fair&quot; and hinted that it may pursue a hostile takeover of the Internet company, according to a statement Microsoft made Monday in response to&#160;Yahoo&#39;s formal rejection of its buyout offer.
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Yahoo's second biggest shareholder says Microsoft will have to raise its offer, if it wants to buy the internet firm.
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With Yahooâs board rejecting Microsoftâs bid, it will fall to Christopher P. Liddell, an outsider to the software industry, to plot Microsoftâs next steps in the bitter battle.
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Yahoo&#39;s board of directors plans to reject&#160;Microsoft&#39;s unsolicited $44.6 billion takeover bid,&#160;The Wall Street Journal reported Saturday, citing as its source &quot;a person familiar with the situation.&quot;According to the report, the source said the Yahoo board has determined that the $31-per-share offer &quot;massively&#160;undervalues&quot; the online services company. In addition, Microsoft&#39;s buyout bid doesn&#39;t take into consideration the business risks that Yahoo would be taking if it entered into an agreement that in the end might not be approved by government regulators, the source told the Journal.According to the Journal, Yahoo&#39;s board intends to send Microsoft a letter on Monday, detailing its position.A Yahoo spokeswoman declined to comment on the report today. &quot;We are not providing details on the board&#39;s review process,&quot; she wrote. &quot;Yahoo&#39;s board is carefully and thoroughly evaluating the Microsoft proposal in the context of all of the company&#39;s strategic alternatives, and will pursue the best course of action to maximize long-term value for shareholders.&quot;Microsoft, which announced its offer for Yahoo on Feb. 1, couldn&#39;t be reached for comment today. The offer is a combined cash-and-stock deal; in announcing the bid, Microsoft said Yahoo shareholders could choose to receive either cash or Microsoft stock, although it added that the total consideration would be equally split between the two forms of payment.Yesterday, published reports said that Yahoo&#39;s board was meeting to discuss the offer.Yahoo is still evaluating other options,&#160;including a search advertising partnership with Google, according to today&#39;s report by the Journal. It also may still be open to a longer negotiation with Microsoft: The Journal said it was told by the source that Yahoo would be unlikely to consider any offers below $40 per share.If so, that would require Microsoft to raise its original offer by at least 29 percent, or about $13 billion. In other words, the cost for Microsoft to become a more credible rival to Google in the search and online advertising markets could start at about $57.6 billion.Google has been doing what it can to scuttle the Microsoft takeover bid, including playing the antitrust card by asking, in a blog post by one of its executives last Monday, whether Microsoft might &quot;attempt to exert the same sort of inappropriate and illegal influence over the Internet that it did with the PC?&quot;Microsoft quickly shot back, issuing a statement saying that a combination of it and Yahoo merger would &quot;create a more competitive marketplace.&quot;(Eric Lai contributed to this story.)Computerworld is an InfoWorld affiliate.
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Battle begins! !!!!! Yahoo!'s board of directors has formally rejected Microsoft's hostile takeover bid at a meeting in New York.â¦
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Microsoft will wage a proxy fight to oust Yahooâs directors, people briefed on the matter told DealBook.
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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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If Yahoo rejects the Microsoft bid and finagles a deal with Google, it could open itself up to a slew of shareholder lawsuits, experts say.
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Yahoo's board is reported to be planning to reject Microsoft's unsolicited offer as being too low.
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Microsoft Corp will authorize a proxy battle for Yahoo Inc this week to convince the Web company's shareholders to agree on a takeover deal that the Yahoo board so far has rejected, the New York Times' DealBook blog said on Tuesday.
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Microsoft is looking to launch a proxy fight as part of its effort to acquire Yahoo, according to the The New York Times. The battle could cost Microsoft an additional $20 million to $30 million.
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Yahooâs board decided that Microsoftâs $44.6 billion hostile bid undervalues the company, people involved said.
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Yahoo Inc is set to reject Microsoft Corp's unsolicited bid, now worth $42 billion, as too low, a source familiar with the situation told Reuters on Saturday -- the first clear signal the board might be prepared to negotiate and sell the Internet media giant.
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NEW YORK/SEATTLE  - Yahoo Inc  on Monday  rejected Microsoft Corp's  unsolicited $41.5 billion  takeover offer as too low, forcing the software maker to either  sweeten its bid or adopt a hostile approach to clinch a deal.
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SAN FRANCISCO/NEW YORK  - Yahoo Inc would consider a business alliance with Google Inc as one way to rebuff a $44.6 billion takeover proposal by Microsoft, a source familiar with Yahoo's strategy said on Sunday.
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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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As Microsoft awaits a response from the Yahoo board on its $44.6 billion hostile takeover bid, Redmond showed that it is moving forward with new online advertising technologies it has already acquired.