May 02, 2008
Microsoft directors meet to discuss Yahoo
Microsoft's directors met April 30 to discuss its possible bid to purchase online search giant Yahoo. There were speculations the company would offer a higher bid than the original $44.6 billion one. Microsoft CEO Steve 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. However, that deadline has passed with no action. On May 1, Ballmer reportedly told staff a decision on whether to lead a hostile takeover or raise the bid would be announced soon.
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