Saturday, April 05, 2008

Balmer To Yahoo Board! I Will ..........

Microsoft sent a letter to Yahoo board of Directors saying / Threatening that Yahoo has three weeks to negotiate a decent deal, after which time Microsoft / Steven A. Ballmer is going to go postal. So if Balmer has his way, we might see a new Yahoo! board selected by Share holders / M$.
If you like to read the letter it is here.
"Given these developments, we believe now is the time for our respective companies to authorize teams to sit down and negotiate a definitive agreement on a combination of our companies that will deliver superior value to our respective shareholders, creating a more efficient and competitive company that will provide greater value and service to our customers. If we have not concluded an agreement within the next three weeks, we will be compelled to take our case directly to your shareholders, including the initiation of a proxy contest to elect an alternative slate of directors for the Yahoo! board. The substantial premium reflected in our initial proposal anticipated a friendly transaction with you. If we are forced to take an offer directly to your shareholders, that action will have an undesirable impact on the value of your company from our perspective which will be reflected in the terms of our proposal.

It is unfortunate that by choosing not to enter into substantive negotiations with us, you have failed to give due consideration to a transaction that has tremendous benefits for Yahoo!’s shareholders and employees. We think it is critically important not to let this window of opportunity pass

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