Microsoft eyes proxy fight for Yahoo
February 19, 2008 6:22 AM PST
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"
Martin LaMonica is a senior writer for CNET's Green Tech blog. He started at CNET News in 2002, covering IT and Web development. Before that, he was executive editor at IT publication InfoWorld. E-mail Martin. 
