Microsoft promises Yahoo move 'in very short order'

2 May, 2SAN FRANCISCO: Microsoft's chief executive on Thursday told employees he won't pay "a dime above" what he thinks Yahoo is worth and they will know the next move in the takeover quest "in very short order." Steve Ballmer's comments on the Microsoft's still-unresolved 44.6-billion-dollar bid for Yahoo came during a "town hall" meeting at the world's largest software company. "I know exactly what I think Yahoo is worth and I won't go a dime above," Ballmer said during the in-house exchange with employees posted on the Internet. Analysts and others have spent the week eagerly awaiting Microsoft's next move in a saga that began when Microsoft made the unsolicited offer for Yahoo on February 1.
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Microsoft gave Yahoo until April 26 to accept the offer but the California Internet pioneer let the deadline pass without response. "We've got basically the three big options in front of us," Ballmer told the internal forum. "There's the friendly deal, there's an unfriendly deal, and the third path is simply to walk away. We ought to announce something in very short order." A source close to Yahoo told AFP the firm is awaiting Microsoft's move. "We are all staying tuned," the source told AFP. "It is pretty clear they will have to raise their offer. Clearly, they need the company." Citing knowledgeable sources, The Wall Street Journal reported Wednesday that Microsoft's board had "indicated a willingness" to increase its initial 31-dollar-per-share offer to 33 dollars. That might not be enough to consummate the deal, according to Canaccord Adams analyst Colin Gillis. "Yahoo has said they are open to any deal with anyone, even Microsoft, at the right price," Gillis said. "From a shareholder angle the 35-dollar price target seems to be the number."