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images/news/yahoo.jpgYahoo Inc has three weeks to accept Microsoft Corp's $31-a-share cash-and-stock offer or Microsoft may lower its bid and take its offer to Yahoo investors, Microsoft said on Saturday.
Microsoft Chief Executive Steve Ballmer said in a letter dated April 5 and addressed to Yahoo's board of directors that "now is the time" to negotiate final terms of a deal, which, valued at more than $40 billion would mark the biggest-ever takeover in the high-tech industry.
"If we have not concluded an agreement within the next three weeks, we will be compelled to take our case directly to your shareholders, including the initiation of a proxy contest to elect an alternative slate of directors," Ballmer wrote.
Then he threatened to reduce Microsoft's offer if Yahoo failed to meet the deadline: "That action will have an undesirable impact on the value of your company from our perspective which will be reflected in the terms of our proposal."
Yahoo! News
Microsoft Chief Executive Steve Ballmer said in a letter dated April 5 and addressed to Yahoo's board of directors that "now is the time" to negotiate final terms of a deal, which, valued at more than $40 billion would mark the biggest-ever takeover in the high-tech industry.
"If we have not concluded an agreement within the next three weeks, we will be compelled to take our case directly to your shareholders, including the initiation of a proxy contest to elect an alternative slate of directors," Ballmer wrote.
Then he threatened to reduce Microsoft's offer if Yahoo failed to meet the deadline: "That action will have an undesirable impact on the value of your company from our perspective which will be reflected in the terms of our proposal."
Yahoo! News
