Archive for the ‘Board’ Category
- In: Bid | Board | Meets | Microsoft | New York Times | on | YAHOO
- Leave a Comment
Microsoft’s chief executive, Steven A. Ballmer, in persuasion mode before a technology fair in March. Mr. Ballmer is said to have made calls recently with a pitch to large Yahoo shareholders.
Microsoft’s directors met Wednesday to discuss how to proceed with the company’s attempted takeover of Yahoo, according to a person briefed on the discussions.
The board was expected to consider a range of options, including Microsoft raising its offer in an attempt to break the stalemate between the companies, this person said.
In recent days, Microsoft has considered increasing the bid, currently valued at $29.06 a share, to $32 or $33, said this person, who asked not to be identified because he was not authorized to speak about the discussions.
Microsoft’s chief executive Steven A. Ballmer, has personally called some large Yahoo shareholders to get their support for a bid in that range.
But Microsoft executives have been frustrated by signs that such shareholders are holding out for an even higher offer — in the range of $35 to $37 a share. Without that higher offer, those shareholders have been unwilling to press Yahoo’s management into entering serious negotiations, this person said.
A Microsoft spokesman declined to comment.
Earlier in April, Mr. Ballmer threatened to start a proxy fight to oust Yahoo’s board if the two companies did not reach a negotiated deal by April 26. The deadline passed without an agreement or substantive negotiations between the companies.
Valleywag - valleywag.wordpress.com 
Recent Comments