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Microsoft May be Ready to Make a Proxy Move on Yahoo

Microsoft May be Ready to Make a Proxy Move on Yahoo

by , 9:45 AM EDT, April 30th, 2008

Microsoft's next move to take over Yahoo may come as early as Wednesday. The Redmond-based company has remained silent about its plans, but a source close to the company claimed that a proxy takeover is one of the options under consideration, according to the Wall Street Journal.

Apparently Microsoft has put together a list of 10 nominees and three alternatives to replace Yahoo's current board of directors and could attempt to take over the Internet search company's board at the next shareholder meeting this summer.

Microsoft presented Yahoo with an unsolicited US$44.6 billion takeover bid in February to try to better compete with Google for online search advertising dollars. Yahoo rejected the offer after claiming it undervalued its market value.

Microsoft later gave Yahoo an ultimatum with a deadline of April 26 to close a by out deal or potentially face a hostile takeover attempt. Yahoo let Saturday pass without reaching an agreement with Microsoft, and both companies have been quiet about the proposed buy out ever since.

Currently, Google is the dominant player in that advertising market, and Yahoo is the runner up. So far, Microsoft has not been able to make a dent in Google's market lead.

Microsoft and Yahoo are not commenting on the status of the buyout offer.

Observer Comments

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Close Name:Guest
Subject:

Is it a by out or a buy out or a buyout? Summer school starts soon!javascript:emoticon('')

Close Name:Guest
Subject: A**Holes at MSoft

Those Aholes at Microsoft will do anything (including sending their muslim employees to jihad) in their attempts to get control of yahoo. I personally hope that Microsoft doesn't EVER get control of the company because it would just screw yahoo over

Close Name:Guest
Subject: If it goes through...

If it goes through and Microsoft forefully takes over Yahoo, I hope that at that point Yahoo tanks and everyone stops using it! I'm sure that would happen eventually as Microsoft would most likley screew up Yahoo once it owns it.

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