Microsoft will play waiting game for Yahoo
Two months on and Microsoft's bid for Yahoo remains unchanged, and unaccepted, as the Windows maker plans to keep on waiting and perusing the internet giant.
With Yahoo unwilling to accept a Microsoft takeover offer it believes "substantially undervalues" its business, and Microsoft failing to raise its bid, the Windows maker's plan is now to just sit and wait. Although Yahoo promptly rejected Microsoft's unsolicited $44.6 billion (22.3 billion) part-cash, part-stock offer made on 1 February, the company hinted that a higher bid might meet a better fate. Microsoft, however, isn't taking the bait. Microsoft has no intention of raising its bid for Yahoo, The Wall Street Journal reported. Instead of raising its offer and essentially bidding against itself, Microsoft has decided to simply wait for the struggling internet company to accept its original offer.
Microsoft believes the poor state of the US economy and the weak stock market will make its original offer seem more appealing to Yahoo.
The two companies have only met one time to discuss possible negotiations to make the takeover come to fruition.
After Yahoo's board amended its bylaws last month to extend the deadline for nominating new members, Microsoft no longer has any plans to nominate its own directors. The new deadline is 10 days after the public announcement of the date of the meeting. The date of the 2008 meeting has yet to be set.
During the saga of Yahoo's takeover, other potential bidders have included Time Warner and News Corp, although Microsoft remains the only company to make an offer and is by far the most likely winner.
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