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Microsoft mulls alternatives to Yahoo acquisition

Posted: 20 May 2008 ?? ?Print Version ?Bookmark and Share

Keywords:Yahoo!? takeover bid? Microsoft?

Microsoft Corp. has issued a statement saying it continues to explore and pursue alternatives to improve and expand its online services and advertising business. The software firm clarified it is not proposing to make a new bid to acquire all of Yahoo at this time, but that it reserves the right to reconsider that alternative depending on future developments and discussions that may take place with Yahoo or discussions with shareholders of Yahoo or Microsoft or with other third parties.

"Microsoft is considering and has raised with Yahoo Inc. an alternative that would involve a transaction with Yahoo but not an acquisition of all of Yahoo," said the company in the statement. "There of course can be no assurance that any transaction will result from these discussions."

Meanwhile, The Wall Street Journal last week reported that billionaire investor Carl Icahn was readying a proxy battle for Yahoo's board, aiming to push it to revive takeover talks with Microsoft.

In January, Microsoft started talks on its $44.6B acquisition bid for Yahoo! that would position Microsoft as a strong competitor to Google in the advertising and consumer online services market. However, Yahoo! rejected the deadline Microsoft gave as ultimatum for the offer. Early this month, Microsoft gave up its Yahoo! takeover bid.

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