Microsoft Gave Yahoo 3 Weeks Bid
Microsoft has warned Yahoo that it will lower its offer if Yahoo fails to come to an agreement within three weeks.
Microsoft’s Steve Balmer wrote to Yahoo’s shareholders, “While there has been some limited interaction between management of our two companies, there has been no meaningful negotiation to conclude an agreement”. Read Yahoo’s reply after the jump.
Yahoo has responded to Microsoft’s 3 week ultimatum, “we will not allow you or anyone else to acquire the company for anything less than its full value. We consider your threat to commence an unsolicited offer and proxy contest to displace our independent Board members to be counterproductive and inconsistent with your stated objective of a friendly transaction.”
