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Yahoos board of directors may have spurned its advances, but thats not
going to stop Microsoft in its effort to acquire Yahoo. In a statement released
this afternoon, Microsoft made it clear that it would continue with its plans,
one way or another:
It is unfortunate that Yahoo! has not embraced our full and fair proposal to
combine our companies. Based on conversations with stakeholders of both
companies, we are confident that moving forward promptly to consummate a
transaction is in the best interests of all parties.
We are offering shareholders superior value and the opportunity to participate
in the upside of the combined company. The combination also offers an
increasingly exciting set of solutions for consumers, publishers and advertisers
while becoming better positioned to compete in the online services market.
A MicrosoftYahoo! combination will create a more effective company that would
provide greater value and service to our customers. Furthermore, the combination
will create a more competitive marketplace by establishing a compelling number
two competitor for Internet search and online advertising.
The Yahoo! response does not change our belief in the strategic and financial
merits of our proposal. As we have said previously, Microsoft reserves the right
to pursue all necessary steps to ensure that Yahoo!’s shareholders are provided
with the opportunity to realize the value inherent in our proposal.
Judging by that statement, it seems that Microsoft plans to push its original
$31pershare offer directly to shareholders in an effort to force the Yahoo
boards hand.
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Source: http://blog.searchenginewatch.com/blog/080211215754
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