Microsoft gives Yahoo a deadline before it launches hostile takeover bid

Software giant Microsoft has given Yahoo a deadline after which they are planning to launch a hostile takeover attempt at a lesser price offer.

The company said that Yahoo has to accept a deal before April 26 or they would start targeting the shareholders of the company.

Microsoft Chief Executive Steve Ballmer said in a statement: “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. 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.”

Yahoo has declined to comment on this latest development in this saga which aims to merge Yahoo with Microsoft operations.

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