Apparently, Microsoft means serious business when it puts its $44B of its money in exchange for Yahoo’s cooperation. The software giant just won’t take no for an answer.
As a matter of fact, Microsoft sent an open letter to Yahoo’s Board of Directors claiming that their offer was nothing short of 62% premium over Yahoo’s closing price on January 31, 2008. However, unwilling to give in to the temptation, Yahoo refused the offer.
Microsoft then released an ultimatum for Yahoo to make a decision in three weeks , and then promises to try and start a proxy contest to elect an alternative set of directors to the board.
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