Yahoo execs fired back a response this morning to Microsoft CEO Steve Ballmer's weekend ultimatum giving the Yahoo board a deadline of 3 weeks to avoid a hostile takeover. CEO Jerry Yang and Chairman Roy Bostock reiterated that the Microsoft offer is still too low—it has declined in value as Microsoft stock has continued to skid—but said they're still open to a sweetened deal. They accused Ballmer of being the one who's failing to negotiate.
They pointed out that Ballmer personally attended two meetings, and "could have advanced discussions in any way you saw fit," reports the Wall Street Journal. And, they said Ballmer’s claim that Yahoo’s business was struggling was bunk, saying Yahoo was in line with the company’s projections. Microsoft originally bid $31 a share for Yahoo.