Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Uproar After NC State Agent 'Fixes' Girl's Lunch Preschooler has to eat chicken nuggets instead of mom's meal »

Microsoft Edges Toward Hostile Bid

Ballmer, still on fence last night, expected to move on Yahoo today

By Rob Quinn,  Newser Staff

Posted May 2, 2008 4:52 AM CDT

(Newser) – Microsoft appears to be edging closer to a hostile bid for Yahoo, the Wall Street Journal reports; an announcement of the company's next move is expected today. Price will be a key factor: CEO Steve Ballmer told employees yesterday he won't pay a "dime above" what he thinks Yahoo is worth. Yahoo shareholders are looking for $35 to $37 a share; Ballmer's original offer was worth $29.48 a share at the close yesterday.

Ballmer also appeared to leave the door open for Microsoft to walk away from the bid, saying that other options exist, though conceding that buying Yahoo would be the best way for the company to get "up to scale" in its online business. A hostile bid for Yahoo would likely take months to pull off, and would run the risk of driving much of Yahoo's best talent from the company.

A Times Square news ticker flashes a headline about Microsoft above a billboard for Yahoo! in New York in this Friday, May 4, 2007 file photo.
A Times Square news ticker flashes a headline about Microsoft above a billboard for Yahoo! in New York in this Friday, May 4, 2007 file photo.   (AP Photo/Mark Lennihan, file)
Steve Ballmer, CEO of Microsoft, gives a speech during the opening ceremony of the CeBIT in Hanover, northern Germany, in this Monday, March 3, 2008 file photo.
Steve Ballmer, CEO of Microsoft, gives a speech during the opening ceremony of the CeBIT in Hanover, northern Germany, in this Monday, March 3, 2008 file photo.   (AP Photo/Joerg Sarbach, file)
Microsoft CEO Steve Ballmer told employees there were three ways the company could go on Yahoo and an announcement will be made soon.
Microsoft CEO Steve Ballmer told employees there were three ways the company could go on Yahoo and an announcement will be made soon.   (AP Photo/Paul Sakuma)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More Newser Stories

Google, Yahoo, 13 Others Declare War on Phishing

Yahoo Attracts Many Suitors, Weak Offers

Microsoft, Aol, Yahoo Agree to Sell Each Other's Ads

Google Looking to Buy Yahoo

Yahoo Founder Looking to Take Company Private


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne