In a letter from Yahoo CEO Jerry Yang, to Microsoft CEO Steve Baller, Yang says that while he is not opposed to a deal between Microsoft and Yahoo, he believes the current offer is too low, he also said the ultimatum issued on Saturday was counterproductive.
Over the weekend Microsoft issued an Ultimatum, if Yahoo did not accept Microsofts Offer by April 26th they would begin a hostile takeover and try to get Yahoo for a Much Cheaper price.
“Our board’s view of your proposal has not changed,” said the letter, signed by Yahoo Chairman Roy Bostock and Chief Executive Jerry Yang. “We continue to believe that your proposal is not in the best interests of Yahoo and our stockholders.”
As of 2PM April 7th Yahoo stock was down 26 cents, while Microsoft stock was down .03.
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