April 7, 2008 by keith
After two months since Microsoft Corp. announced its initial bid to takeover Yahoo! Inc., it seems that software maker is beginning to grow impatient.
Many analysts have suggest that the snubbing of a US$44.6 billion takeover bid from Microsoft could prompt a drop in Yahoo!'s share prices, as the Microsoft threatened to cut its bid if the Yahoo! board of directors refused to give in soon.
The current bid was known to be a 62% premium to Yahoo! stock prices at that time. The directors have another three weeks to negotiate a deal with Microsoft, beyond which the case will be taken to the investors.
The outcome from the scenario is that the current board of directors could potentially lose their seat.
The move by Microsoft, making the US$31-a-share offer on January 31, 2008, allows them to unite the second- and third-most popular search engines in the United States to take on Google, which has more than half of the market share in the country, in terms of Internet queries.
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