Updated from April 6
Microsoft(MSFT Quote) is giving Yahoo!(YHOO Quote) a clear ultimatum: Negotiate an acquisition or prepare for a fight.
In a letter to the Yahoo! board Saturday, Microsoft CEO Steve Ballmer said his company is tired of waiting for Yahoo! to work out a deal. If an agreement isn't made in three weeks, Ballmer said Microsoft would take its case straight to Yahoo! shareholders and launch a proxy battle to elect alternative directors to Yahoo!'s board.
"It has now been more than two months since we made our proposal to acquire Yahoo! at a 62% premium to its closing price on January 31, 2008, the day prior to our announcement," Ballmer wrote. "Our goal in making such a generous offer was to create the basis for a speedy and ultimately friendly transaction. Despite this, the pace of the last two months has been anything but speedy." ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
Connect with TheStreet