Microsoft May Try To Replace Yahoo Board
Microsoft appears to be taking the next steps in its move toward a hostile
acquisition of Yahoo -- or at least put pressure on Yahoo to come to the bargaining
According to a New
York Times report yesterday, if Yahoo won't negotiate with Microsoft regarding the
takeover, Microsoft will attempt to oust Yahoo's current board of directors
and replace it with one that would be more more receptive.
"Microsoft would...seek to nominate a slate of directors to Yahoo's board
by March 13, the final deadline for nominations, and pursue a lengthy campaign
to oust the board," the New York Times' DealBook blog reported,
citing anonymous sources. "The move, expected to cost about $20 million
to $30 million, was Microsoft's alternative to raising its $44.6 billion bid
and is seen as a less expensive way to put pressure on Yahoo's board."
Microsoft representatives declined to comment on a request for comment
on the report.
Last week, reports indicated that Yahoo was seeking to partner with others,
News Corp., to avoid being acquired by Redmond and/or force the company
to up its offer.