Microsoft steps up Yahoo campaign

Microsoft has hired a firm that specialises in proxy battles in a move which suggests it could try to oust the current board of Yahoo directors.

The Yahoo board rejected a takeover offer from Microsoft worth more than $40bn (£20.6bn) saying it was too low.

A proxy fight would see Microsoft nominate a group of directors sympathetic to a deal for shareholders to vote on at Yahoo's annual meeting.

The move would be cheaper than raising its $31-a-share offer, analysts say.

Read Full Article from BBC News

- Posted: 2008-02-20 09:39:58

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