Microsoft will authorize a proxy takeover attempt of Yahoo this week, according to a report in The New York Times' DealBook on Monday.
The tactic, in which Microsoft appeals directly to Yahoo shareholders to vote on its proposed acquisition, would be a cheaper alternative than raising its per-share offer, the article said.
Microsoft proposed $31 per share to buy Yahoo, which Yahoo's board said undervalues the company. Every dollar added to its per-share offer adds $1.4 billion to the acquisition cost, which is now valued at about $41 billion, according to the article.
Read more at the DealBook: "Proxy Fight Looms for Yahoo"
Discuss: Microsoft eyes proxy fight for Yahoo
Be respectful, keep it clean and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.