Stung by the loss of Internet advertising firm DoubleClick to Google last month, Microsoft has intensified its pursuit of a deal with Yahoo!, asking the company to re-enter formal negotiations, The Post has learned.
Microsoft Threatens to Go Hostile on Yahoo By Betsy Schiffman April 05, 2008 | 2:45:30 PM
Microsoft says Yahoo has three weeks to negotiate a decent deal, after which time Microsoft is going to get medieval on its ass.
The company sent out a letter to Yahoo's board, whining about how there hasn't been any meaningful progress in negotiations [...] From the letter:
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. The substantial premium reflected in our initial proposal anticipated a friendly transaction with you. 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.
But as we seem to recall, Yahoo did respond to Microsoft in February -- its consistent message has been that the Microsoft offer "substantially undervalues" the company. [...]
