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July 5, 2008 5:59:59 PM CDT

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Microsoft Still Pondering Yahoo Options

Posted May 1, 08 9:37 AM CDT in Business    Most Covered

(Newser) – Microsoft's board met yesterday to discuss the next move in its bid for Yahoo but didn't make a decision, the Wall Street Journal reports. Directors have given CEO Steve Ballmer broad leeway to decide between going hostile or walking away from the bid, and insiders say it could still go either way. An announcement is expected later this week.

Microsoft appears willing to go as high as $33 per share for Yahoo, whose shareholders are reportedly holding out for at least $35 and management wanting a price in the upper $30s. Yahoo has been looking to other parties to ward off a Microsoft takeover; it's tried Google ads and is said to be in merger negotiations with AOL.

Source Wall Street Journal

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Microsoft's CEO Steve Ballmer answers a question from the audience at the Microsoft 2008 MVP Global Summit MVP event from Canada in Seattle in this April 17, 2008, file photo.   (AP Photo/Kevin P. Casey, File)
The next move in Microsoft's proposed takeover of Yahoo is up to Steve Ballmer, sources tell the Wall Street Journal, painting the CEO as sometimes unpredictable.   (AP Photo/Virginia Mayo)
Exterior view of Yahoo headquarters in Sunnyvale, Calif., Wednesday, April 30, 2008.   (AP Photo/Paul Sakuma)
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