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.
Martin LaMonica Former Staff writer, CNET News
Martin LaMonica is a senior writer covering green tech and cutting-edge technologies. He joined CNET in 2002 to cover enterprise IT and Web development and was previously executive editor of IT publication InfoWorld.
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"