Yahoo's Reply To Microsoft's Ultimatum

The Board of Directors of Yahoo! Inc., today sent a reply to Steve Ballmer, Chief Executive Officer of Microsoft Corporation.

The response letter states "At the same time, we have continued to make clear that we are not opposed to a transaction with Microsoft if it is in the best interests of our stockholders. Our position is simply that any transaction must be at a value that fully reflects the value of Yahoo!, including any strategic benefits to Microsoft, and on terms that provide certainty to our stockholders."

The letter also states : "We consider your threat to commence an unsolicited offer and proxy contest to displace our independent Board members to be counterproductive and inconsistent with your stated objective of a friendly transaction."

In short, either Microsoft pays more for a peaceful takeover, or prepares itself for a Corporate War !

Link: Yahoo!

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