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Tech Industry

Microsoft eyes proxy fight for Yahoo

The New York Times' DealBook says that a proxy battle is a cheaper way for Microsoft to acquire Yahoo.

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"