Monday, April 7, 2008

Yahoo responds to Microsoft ultimatum: more money please

Posted Apr 7th 2008 6:37AM by Thomas Ricker
Filed under: Misc. Gadgets


As expected, Yahoo has responded to Microsoft's 3 week ultimatum this morning. The bottom line is pretty clear in a letter signed by Jerry Yang (CEO) and Roy Bostock (chairman). In the "Dear Steve" response to Ballmer they state, "we will not allow you or anyone else to acquire the company for anything less than its full value." They go on to state that, "We consider your threat to commence an unsolicited offer and proxy contest to displace our independent Board members to be counterproductive and inconsistent with your stated objective of a friendly transaction." Make no mistake about it, this is corporate war and will likely end with Yahoo's best engineers working for Google.

Tags: breaking news, BreakingNews, microsoft, takeover, yahoo

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