Yahoo lets Microsoft deadline pass

Category: Digital Marketing

April 28th 08, 09:10

The deadline by which Microsoft told Yahoo! to respond to its takeover offer expired without comment this weekend.

Chief executive of Microsoft Steve Ballmer sent an open letter to Yahoo on April 5th, warning the search pioneer of a proxy fight if it did not accept the company's 31 cents-per-share offer in the next three weeks.

Yahoo subsequently sought alternatives to a Microsoft buyout, engaging with Time Warner over a possible deal with AOL and Rupert Murdoch's News Corporation over an alliance with MySpace.

The deadline of 07:00 on Sunday April 27th passed this weekend, days after Chris Liddell, Microsoft's chief financial officer, emphasised that the company would not ease its position regarding Yahoo.

He said: "With respect to Yahoo we have been clear: speed is of the essence."

In the same week, Yahoo posted income of £271.5 million for the first quarter of 2008 - triple its income for the first three months of 2007.

This news story was brought to you by Bluhalo, a leading UK digital agency.


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