Ballmer May Seek Middle Path on Yahoo

Microsoft could nominate proxy slate, wait on hostile offer
By Rob Quinn,  Newser Staff
Posted Apr 30, 2008 7:13 AM CDT
Microsoft CEO Steve Ballmer scratches his head during a media conference at the Catholic University of Louvain in Louvain-la-Neuve, Belgium, Thursday April 24, 2008.    (AP Photo/Virginia Mayo)
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(Newser) – Steve Ballmer's next move on Yahoo is expected momentarily, and one option is to nominate a proxy slate for the board of directors, the Wall Street Journal reports, but hold off on making a new hostile bid for the company. Microsoft could buy time for setting a new price for Yahoo, which rejected the company's $42-billion bid, but keep the option of a hostile campaign later.

Microsoft executives signaled last week that they were willing to walk away from their offer, with Ballmer resisting pressure to sweeten the offer and saying the software giant could compete in online advertising without Yahoo. Insiders tell the Journal Microsoft has chosen 10 nominees and three alternates for a proxy board.