The Sunday Times reports that Microsoft will launch a hostile take over of Yahoo at its AGM on July 12, if the company does not accept its offer.
It’s strange that Microsoft has not commented on the fact that the deadline it gave Yahoo passed yesterday. Steve Ballmer said in a letter to Yahoo dated April 5th 2008:
“If we have not concluded an agreement within the next three weeks, we will be compelled to take our case directly to your shareholders.”
I rang Microsoft to check whether it had any update, but it was keeping quiet.
The Wall Street Journal said that analysts it spoke to were confident that the deal would eventually happen, but that Microsoft would have to raise its offer before Yahoo accepted.
Microsoft’s CFO, Chris Liddell, said its offer remains ‘extremely generous,’ and said Microsoft would ‘reconsider its alternatives’ if Yahoo fails to accept the offer this weekend.