Microsoft, Yahoo Exchange Letters of WarningMicrosoft, Yahoo Exchange Letters of Warning
<a href="http://www.nytimes.com/2008/04/07/technology/07cnd-soft.html">The New York Times</a>, <a href="http://blogs.zdnet.com/BTL/?p=8396">ZDnet</a>
April 7, 2008
In a letter sent to Yahoo on Saturday, Microsoft says it is ready to begin a proxy fight if the two companies can't negotiate a merger deal by the end of the month.And in a letter fired back Monday morning that begins "Dear Steve," Yahoo still maintains Microsoft will have to up its offer "at a value that fully reflects the value of Yahoo!, including any strategic benefits to Microsoft, and on terms that provide certainty to our stockholders."
Microsoft's initial bid for Yahoo, announced Feb. 1, was for $31 per share; since that time, the offer has been reduced to around $29 in light of the weakening stock market. Executives from each company met as recently as last week, but discussions did little to further the proposed merger.The New York Times, ZDnet
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