Microsoft Yahoo - deadline pases

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.

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