http://blogs.reuters.com/mediafile/2008/04/07/yahoo-to-microsoft-teve-let-talk/ Where media and technology meet Wed, 19 Jun 2013 05:59:10 +0000 hourly 1 http://wordpress.org/?v=3.4.2 http://blogs.reuters.com/mediafile/2008/04/07/yahoo-to-microsoft-teve-let-talk/comment-page-1/#comment-340725 NewsVisual Mon, 07 Apr 2008 21:52:57 +0000 http://blogs.reuters.com/mediafile/2008/04/07/yahoo-to-microsoft-teve-let-talk/#comment-340725 The CEO Steven E Ballmer of Microsoft Corp issued an ultimatum to the Board of Directors of Yahoo! Inc demanding that they instruct their management team to begin serious negotiations over Microsoft’s buyout offer or to face the prospect of a proxy fight. The Redmond-software giant made a $44.6 billion bid several months ago for Yahoo. At that time, Yahoo’s Directors rejected the offer because they deemed it as under-valuing their company. Due to the softening in the economy and the equity markets, Microsoft wants Yahoo to make a decision within the next three weeks. "We believe now is the time for our respective companies to authorize teams to sit down and negotiate a definitive agreement on a combination of our companies that will deliver superior value to our respective shareholders, creating a more efficient and competitive company that will provide greater value and service to our customers," Mr Ballmer said in his letters to the Yahoo Directors. “If we have not concluded an agreement within the next three weeks, we will be compelled to take our case directly to your shareholders, including the initiation of a proxy contest to elect an alternative slate of directors for the Yahoo board,” Mr Ballmer threatened. The CEO Steven E Ballmer of Microsoft Corp issued an ultimatum to the Board of Directors of Yahoo! Inc demanding that they instruct their management team to begin serious negotiations over Microsoft’s buyout offer or to face the prospect of a proxy fight. The Redmond-software giant made a $44.6 billion bid several months ago for Yahoo. At that time, Yahoo’s Directors rejected the offer because they deemed it as under-valuing their company. Due to the softening in the economy and the equity markets, Microsoft wants Yahoo to make a decision within the next three weeks. “We believe now is the time for our respective companies to authorize teams to sit down and negotiate a definitive agreement on a combination of our companies that will deliver superior value to our respective shareholders, creating a more efficient and competitive company that will provide greater value and service to our customers,” Mr Ballmer said in his letters to the Yahoo Directors. “If we have not concluded an agreement within the next three weeks, we will be compelled to take our case directly to your shareholders, including the initiation of a proxy contest to elect an alternative slate of directors for the Yahoo board,” Mr Ballmer threatened.

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