"Microsoft could be ready to take action on its ultimatum to Yahoo as early as today, say alleged sources in touch with the Wall Street Journal. With Microsoft having remained silent since the passing of its deadline for Yahoo to accept a takeover offer, the Windows developer is now reportedly set to announce its next plan of action and has been considering multiple strategies.
One of these is to fight a slightly less aggressive proxy war, the paper claims. Rather than bypassing Yahoo's board entirely, Microsoft may nominate a set of 10 board members (with three alternatives) it deems friendly to the $31 per share takeover bid and gauge the response from shareholders. The move would increase pressure on Yahoo to accept any offers but would allow Microsoft to avoid any immediately hostile effort, which many argue could trigger employee defections and reduce the impact of the deal.
Nothing is said to be definite, according to the report. However, Microsoft CEO Steve Ballmer has commented last week that his company may walk away from the deal if Yahoo resistance continues to create significant delays."
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