Yahoo Board to Meet on Microsoft Offer
NEW YORK (Reuters) - Yahoo Inc's board of directors is to meet on Friday to discuss Microsoft Corp's $44.6 billion buyout offer, the TechCrunch blog said, citing unnamed sources.
Yahoo officials could not immediately be reached.
According to the report, Yahoo's outside advisers are in favor of a deal, despite the interest of some executives to seek an alternative tie-up with Web search leader Google Inc.
Analysts have said Microsoft could be persuaded to raise its $31 per share unsolicited bid, above a 62 percent premium when the offer was first made public last week, to make it easier for Yahoo co-founder and Chief Executive Jerry Yang and his board to accept.
Yahoo investor Capital Research and Management met with Microsoft CEO Steve Ballmer on Thursday to see whether he would be willing to raise the bid, the New York Post reported, citing a source familiar with the meeting.
Yahoo shares were down 12 cents at $28.92 on the Nasdaq.
(Reporting by Michele Gershberg)
Copyright Reuters 2008. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks or trademarks of the Reuters group of companies around the world.