Wednesday, April 30, 2008

Microsoft directors meet to sweeten Yahoo bid

Microsoft Corp's directors are meeting to consider raising the software maker's $41.9 billion (euro27 billion) bid for Yahoo Inc instead of pursuing a threatened hostile takeover attempt, according to a published report.

A decision could emerge after the meeting, The Wall Street Journal reported, citing unnamed people familiar with the matter.

Microsoft also is weighing withdrawing its bid a move likely to cause a precipitous drop in Yahoo's stock, which has been bolstered by the 3-month-old takeover bid.

If Yahoo's stock deteriorated during the next few months, Microsoft could return with another bid that would be more difficult to turn down.

Investors have been eagerly awaiting word of Microsoft's next move since Yahoo let pass an April 26 deadline for accepting the offer More Details>>