Microsoft Standing Pat on Yahoo Bid

Sans other suitors, Microsoft feels no pressure to up its $44B
By Jim O'Neill,  Newser User
Posted Apr 1, 2008 12:14 PM CDT
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)
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(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.