»
M'soft givesMicrosoft has had enough of Yahoo’s dallying and has sent a letter stating it has three weeks to move on its $44.6 billion buyout offer.
If the companies fail to form a pact by then, “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,” wrote CEO Steve Ballmer of Microsoft (via MarketingVox).
90 percent of Yahoo’s shareholders are also major Microsoft shareholders. Most have more money invested in Microsoft. Faced with seeing it overpay for Yahoo versus ousting Yahoo’s board, it isn’t unlikely they will choose the latter.
Ballmer also threatened to reduce Microsoft’s bid if Yahoo cannot make its mind up in three weeks. Yahoo’s board is currently reviewing the letter, Reuters reports.
Microsoft made the unsolicited bid for Yahoo in early February. A week later Yahoo formally declined on grounds that, at $31 per share, the offer was too low.
The company later considered other potential mergers or strategic relationships, including one in which it would become a kind of gatekeeper for News Corp.’s internet assets. CEO Rupert Murdoch of News Corp. later said he would not risk Microsoft’s wrath for Yahoo’s neck.
Last month, Yahoo tried to buy thinking time by extending a deadline to nominate board directors. But following the recent approval of the Google/DoubleClick merger, a pairing between the two search/online advertising giants might ultimately prove wise.
Radio stations in the U.K. reacted with outrage when they learned of a report by researchers from the University of the West of England which accused them of promoting excessive drinking.
The study looked at 1,200 hours of radio output,…
General Motors posted sales of 308,817 vehicles in August. That’s a drop of 20 percent from August of last year - but 31 percent better than July.
In order to boost sales as much as possible during a time when…
A new digital out-of-home network to reach golfers is launching to 100 retail locations in the next two months. The network will be available in Dunham’s Sporting Goods, Golf Etc., Golf USA, Pro Golf, and ParMasters, among others.
Fox says that viewers’ attention to commercials is higher when fewer commercials are aired. The revelation comes as a result of testing the network has done for its freshman thriller, Fringe, which will premiere Sept. 9 with limited commercials and shorter…
Worldwide sales of mobile phones will reach 1.28 billion units in 2008 - up from 1.15 billion units in 2007 - an 11 percent increase from last year, according to Gartner, Inc - (via MarketingCharts).
While the mobile phone market is poised for…
Consumers in all income segments are cutting back spending, and doing so to a greater extent recently than at the beginning of the second quarter, according to a comScore study examining changes in consumer attitudes and perceptions about the U.S. economy…
