Yahoo contends Microsoft takeover bid is too low

Facing deadline pressure from Microsoft to consummate the software Goliath's $41 billion buyout bid, web services giant Yahoo said Monday it doesn't necessarily oppose a deal--it simply wants a better offer. Microsoft warned Saturday it will mount a hostile takeover if an agreement is not reached by April 26--in an open letter to Microsoft CEO Steve Ballmer, Yahoo's board of directors responds "We have continued to make clear that we are not opposed to a transaction with Microsoft if it is in the best interests of our stockholders. Our position is simply that any transaction must be at a value that fully reflects the value of Yahoo, including any strategic benefits to Microsoft, and on terms that provide certainty to our stockholders … We are open to all alternatives that maximize stockholder value." The letter also asserts that Microsoft has publicly mischaracterized the negotiations, arguing its takeover threats are "counterproductive."

For more on Yahoo's position:
- read this letter to Steve Ballmer [1]

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