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Microsoft on Saturday applied pressure to Yahoo by submitting a letter directly to the search engine firm's board of directors, setting a deadline for the company to accept Microsoft's $31 per share takeover offer. Citing deteriorating economic conditions, the Redmond, Washington-based Microsoft refused to increase its bid and gave Yahoo a total of three weeks to accept the $44.6 billion bid as originally made in late January before it would be "compelled" to bypass the board and bring a lower-priced offer directly to Yahoo's shareholders. This will include launching a proxy battle by stepping up pressure to elect a more takeover-friendly board of directors at Yahoo, Microsoft said.
As Motorola announces its desire to spin off its handset and broadband business as independent public companies, Videocon Industries is first to throw its hat into the ring, filing an expression of interest document for the former of the two departments. According to DeepikaGlobal, there will be a delay in the decision, however, since the acquisition process is required to be cleared by the regulatory body. Videocon chairman and managing director V. N. Dhoot told reporters of its intents.
The heavily anticipated 3G-capable iPhone will be available within the next 60 days, Wall Street Journal columnist Walt Mossberg revealed at a Beet.TV executive conference in Washington, DC. The veteran writer made the comment while discussing the limits of cellular broadband in the US, noting that third-generation access in the country is still slow compared to other areas of the world. Mossberg doesn't offer supporting evidence in the speech but is known to regularly have exclusive access to advance details, having received a review iPhone weeks ahead of its June 2007 debut.
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