Microsoft 'not yet reached consensus on Yahoo!'

Category: Search

May 1st 08, 09:22

An agreement has not yet been reached by Microsoft's board of directors about its attempted acquisition of Yahoo!.

The board met on Wednesday to discuss whether to raise its $41.8 billion (£21 billion) offer for the search pioneer, or to approach the company with a proxy slate of directors, according to the Wall Street Journal.

A hostile takeover once seemed likely but is now reportedly being reconsidered by Microsoft, as such a tactic would not guarantee success and could be protracted.

Meanwhile, the software giant's chief executive Steve Ballmer has expressed his readiness to walk away from the deal altogether, the publication asserts.

But Wall Street analysts are said to feel this is merely a negotiating tactic intended to spur Yahoo into action.

Microsoft initially set a deadline by which Yahoo! was to respond to its $31 per share offer - which has now fallen in value to about $29.06 per share due to a drop in Microsoft stock.

But this weekend saw the deadline pass without comment from either company.

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

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