Report: Microsoft Met with Yahoo Monday to Discuss Merger Vision

Authored by Scott Goldberg on March 14, 2008 - 4:42am.

Sunnyvale, CA – According to the Wall Street Journal, senior executives of Microsoft (NSDQ: MSFT) and Yahoo (NSDQ: YHOO) met on Monday to discuss Microsoft’s takeover over the internet giant. It was the first face-to-face meeting between the two since Microsoft’s unsolicited bid on January 31, the WSJ says.

Sources familiar with the meeting said it was not a negotiation and bankers were not present. Microsoft merely presented its concept for the merged entity, and the sources said the Yahoo execs “mostly listened,” the WSJ said.

Apparently the meeting is one Yahoo has had with other suitors, including AOL and News Corp.

Yahoo’s board formally rejected Microsoft’s original bid valued at $44.6 billion, which represented a 62% on Yahoo shares the day before the bid was announced, because it undervalued the company.

Citing people familiar with the process, the WSJ says that Microsoft has refused to raise its bid until Yahoo allows it a closer analysis of the books.

Read more:

http://tinyurl.com/yw4ned (WSJ)

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