SEATTLE - Microsoft Corp. will authorize a proxy battle for Yahoo Inc. this week to convince the Web company's shareholders to agree on a takeover deal that the Yahoo board so far has rejected, the New York Times' DealBook blog said on Tuesday.
Quoting people briefed on the matter, the Times Web site said that Microsoft, which has been expected to raise its cash-and-stock bid originally worth $44.6 billion, would seek to nominate a slate of directors by March 13, if Yahoo's board did not enter talks.
[From Microsoft to authorize Yahoo proxy battle - U.S. business- msnbc.com]
Can't we all just get along?
First Yahoo said that Microsoft's offer was not good enough (the balls!), then the whole financial press assumed that they would meet halfway at $35. Next, Microsoft said nope, we stand firm by our original offer. And now this: they are ready to go the proxy war route.
You wanted a hostile takeover? You got it.
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