The deadline for Yahoo to give a response
to Microsoft's $44.6bn takeover offer
has now expired, paving the way for a fierce battle to win shareholder approval.
Yahoo was given until last weekend to consider the offer, despite its prior
rejection of the bid for being too low. Microsoft previously stated that it
would aim to incite a shareholder revolt if its direct negotiations proved
unsuccessful.
Both companies posted quarterly results last week. Microsoft's profit slipped
11 per cent to $4.39bn (£2.22bn), while revenue held steady at $14.45bn.
Meanwhile Yahoo's earnings jumped to $542m during the first three months,
while sales rose nine per cent to $1.82bn.
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Profit has tripled to £271m, but Microsoft's takeover bid still casts a shadow 23 Apr 2008
But the door remains open for a possible joint offer with Microsoft 22 Apr 2008
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