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Microsoft to authorize Yahoo proxy battle: report

LOS ANGELES (Reuters) - Microsoft Corp <MSFT.O> will authorize a proxy battle for Yahoo Inc <YHOO.O> this week to convince the Web company's shareholders to agree on a takeover deal that the Yahoo board so far has rejected, the New York Times' Dealbook blog said on Tuesday.
Posted : Tue, 19 Feb 2008 16:40:01 GMT
Author : Reuters
Category : US (Business)
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LOS ANGELES (Reuters) - Microsoft Corp will authorize a proxy battle for Yahoo Inc this week to convince the Web company's shareholders to agree on a takeover deal that the Yahoo board so far has rejected, the New York Times' Dealbook blog said on Tuesday.

Quoting people briefed on the matter, the Times Web site said that Microsoft, which has been expected to raise its cash-and-stock bid originally worth $44.6 billion, would seek to nominate a slate of directors by March 13, if Yahoo's board did not enter talks.

(Reporting by Peter Henderson; Editing by Derek Caney)


(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.



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