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Microsoft May Shatter the Silence Today, Wall St. Journal Predicts

May be about to nominate a proxy slate of directors
By Maureen O'Gara
Article Rating:
April 30, 2008 04:45 PM EDT
Reads:
 6,210
The Wall Street Journal thinks that Microsoft is about to break the break the deafening silence that has hung in the air since Yahoo! ignored Microsoft’s Saturday deadline to deal or be acquired by force at a lower price. The Journal thinks that Microsoft could nominate a proxy slate of directors to replace Yahoo!’s board but hold off on going directly to Yahoo!’s shareholders and say nothing about the price, a move that could let its shares recover from their 12% decline since Microsoft went public with its Yahoo! lust.

At least that approach was under consideration, it heard. The paper said it could change.
 
There have been no formal negotiations between the two companies since Microsoft issued its ultimatum three weeks ago and the New York Times says Microsoft general counsel Brad Smith told a conference in Redmond that no meetings were scheduled.
 
Microsoft CEO Steve Ballmer said last Wednesday that Microsoft could simply walk away and Thursday CFO Chris Liddell reiterated Ballmer’s premise that Microsoft’s offer was more than fair.
 
Yahoo! of course wants more than $31 a share, and as simply everyone has observed by now Microsoft’s half stock, half cash offer ain’t what it was when Microsoft made it.
 
Microsoft has to remove the Yahoo! board to crush its poison pill defense and would need to float its slate of directors 10 days after Yahoo! sets the date for its annual meeting, which has to be held by July.
 
Meanwhile, the Journal reports, citing a shareholder suit against Yahoo! for ignoring Microsoft’s bid that Microsoft told Yahoo! it would spend $1.5 billion on retaining Yahoo!’s people.

Published April 30, 2008 – Reads 6,210
Copyright © 2008 SYS-CON Media, Inc. — All Rights Reserved.
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More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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Yahoo! News Desk 04/30/08 09:12:44 AM EDT

The Wall Street Journal thinks that Microsoft is about to break the break the deafening silence that has hung in the air since Yahoo! ignored Microsoft's Saturday deadline to deal or be acquired by force at a lower price. The Journal thinks that Microsoft could nominate a proxy slate of directors to replace Yahoo!'s board but hold off on going directly to Yahoo!'s shareholders and say nothing about the price, a move that could let its shares recover from their 12% decline since Microsoft went public with its Yahoo! lust.