Microsoft Corp. directors failed to decide on the next step in the pursuit of Yahoo! Inc. yesterday, leaving open the debate over whether to walk away from the $44.6 billion bid or fight to replace the Internet company's board.
Chief Executive Officer Steve Ballmer is undecided on what to do, and his allies don't know whether he will give up or mount a hostile takeover, the Wall Street Journal reported last night on its Web site, citing people familiar with the matter.
Microsoft examined a price of $32 to $33 a share in recent days, more than the initial $31 cash-and-stock bid, the newspaper said. Raising the offer would be one way for Microsoft, the world's biggest software maker, to clinch a friendly deal with Yahoo or make it easier to win a proxy fight to oust the board.
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