Microsoft to go hostile with Yahoo! takeover offer
Microsoft is set to turn hostile in the battle for Yahoo! by taking its takeover offer directly to the internet search company's shareholders.
The software giant's board is understood to be meeting later this week, at which it is highly likely to authorise a proxy fight in an attempt to wrestle control, nominating a set of directors to replace the existing board.
News of the impending fight emerged as Microsoft founder and chairman Bill Gates suggested the company is unwilling to raise its $31-a-share offer. "We sent them a letter and said we think that's a fair offer. Nothing's gone on other than us stating that we think it's a fair offer," the Microsoft chairman said. "They should take a hard look at it."
