'Microsoft may go hostile in its bid for Yahoo'

Microsoft Corp. may go hostile in its bid for Yahoo Inc. as soon as Friday, according to a published report.
Citing unnamed people familiar with the matter, the Wall Street Journal reported early Friday that the world's largest software maker may be preparing to go straight to Internet pioneer Yahoo's shareholders.
An announcement was ``likely'' to come Friday, according to the report, though the newspaper said its sources cautioned that Microsoft may delay.
Chief Executive Steve Ballmer told employees in a company assembly Thursday that he knows how much he'd spend to buy Yahoo and accelerate his company's Internet play.
``We're willing to pay for that at some level, and beyond that level we're not willing to pay for it. I know exactly what I think Yahoo is worth to me,'' the executive said. ``I won't go a dime above, and I will go to what I think it's worth if that gets the deal done.''
But he did not offer a figure, and he didn't say whether Microsoft is considering raising its unsolicited bid, worth $44.6 billion (euro28.7 billion) at the time it was made in early February.
The offer is currently worth about $42.4 billion (euro27.28 billion), or $29.48 per share, based on Microsoft Corp.'s closing stock price Thursday. Yahoo Inc. has rejected the offer, saying it undervalues the company. Microsoft's board has been considering whether to raise the bid to as much as $33 (euro21.24) per share, according to The Wall Street Journal.
Ballmer didn't provide any new insight into the company's efforts to buy the Silicon Valley pioneer during the meeting at Microsoft's Redmond, Washington, headquarters, but he did indicate that an end to months of speculation was near

Courtesy:thehindu.com

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