updated 01:15 pm EDT, Tue April 22, 2008
Ballmer on Yahoo profits
Microsoft's acquisition offer for Yahoo -- now valued at $43.2 billion -- will not rise, regardless of how well the latter company has done in its latest quarter, according to Microsoft CEO Steve Ballmer. Yahoo will announce its first-quarter results later today, and is expected to show signs of pulling out of a two-year decline, a factor which may increase investor confidence in the company's management. Similarly, Reuters notes that Yahoo executives may use this to protest Microsoft's $31-per-share offer as undervalued.
"I wish Yahoo all the success with its results," counters Ballmer, "but it doesn't affect the value of Yahoo to Microsoft."
Ballmer says he is in fact standing by a deadline set earlier this month, elapsing this Saturday, under which Microsoft may actually lower its bid for Yahoo. The new offer would be taken directly to Yahoo shareholders, and signal the beginning of a proxy battle, with Microsoft attempting to have a sympathetic board of directors elected.