From AFP:
A Microsoft deadline for Internet service company Yahoo to accept its 44.6 billion-dollar (28.5 billion-euro) acquisition offer expired at midnight Saturday, setting the stage for a hostile takeover bid by the software giant.
The expiration of the Sunday 0700 GMT deadline -- without comment from either side -- was likely to pave the way for an ugly proxy battle -- a fight by Microsoft for a vote by Yahoo shareholders to place pro-Microsoft officials on its board of directors.