CEO'S ULTIMATUM: HE MAY CUT BID'S VALUE
Go to San Jose Mercury News original
Microsoft Chief Executive Steve Ballmer on Saturday gave Yahoo three weeks to accept his offer - or he'd launch a hostile takeover of the Silicon Valley company.
And if there's no deal by April 26, Ballmer warned, Microsoft may cut its offering price of $31 a share.
"It has now been more than two months since we made our proposal to acquire Yahoo at a 62 percent premium to its closing price on January 31, 2008, the day prior to our announcement," Ballmer wrote in a letter to Yahoo's board.
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