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May 17, 2008 1:13:33 AM CDT

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Microsoft Standing Pat on Yahoo Bid  

Posted Apr 1, 08 12:14 PM CDT in Business,  Technology    Most Covered

(newser) – Microsoft is standing pat on its $44.6 billion offer for Yahoo, with no intention of upping its ante, reports the Wall Street Journal. The software maker’s Jan. 31 bid—worth $31 per share—was rejected by Yahoo as undervalued. Since then, pundits have waited for Microsoft to raise its bid, possibly as high as $40.

But, with no other realistic suitors for Yahoo apparent, the Journal describes people "close to Microsoft" declaring it has no intention of bidding against itself. Since the original bid, Microsoft’s share price has declined, lowering the deal’s value to about $42 billion, or $29.25 a share. Those same sources say that Microsoft may not even mount its threatened proxy battle for control of Yahoo’s board.

Source Wall Street Journal

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Microsoft Standing Pat on Yahoo Bid
Microsoft Chairman Bill Gates arrives on Capitol Hill in Washington, Wednesday, March 12, 2008, to testify before the House Science and Technology Committee.   (AP Photo/Dennis Cook)
Microsoft Standing Pat on Yahoo Bid
The Yahoo Center office building is seen in Santa Monica, Calif. in this Feb. 2, 2008 file photo.   (AP Photo/Damian Dovarganes, file)
Microsoft Standing Pat on Yahoo Bid
Steve Ballmer, CEO of Microsoft, addresses the media during a news conference at the CeBIT in Hanover, northern Germany, on Monday, March 3, 2008.   (AP Photo/Joerg Sarbach)
Microsoft Standing Pat on Yahoo Bid
This set of flagpoles sits at one of the entrances to Microsoft Corporation in Redmond, Wash.   (AP Photo/Joe Brokert)
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Microsoft  • Yahoo  • MySpace  • mergers and acquisitions  • proxy battle


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