Yahoo’s board of directors met Friday to consider Microsoft’s takeover offer. Yahoo has repeatedly rejected Redmond’s bid, calling it too low. But most analysts believe Microsoft is the most likely candidate to become Yahoo’s parent.

The urgent meeting comes on the heels of Microsoft CEO Steve Ballmer’s ultimatum letter to Yahoo’s board on April 5. Ballmer wanted Yahoo to authorize a team to negotiate and come to an agreement on a merger. He soon after gave the board a three-week deadline to reach an agreement or Microsoft will take the matter to Yahoo’s shareholders.

In a lengthy joint letter, Yahoo Chairman Roy Bostock and CEO Jerry Yang reiterated the company’s initial position that the merger is not in the best interests of Yahoo or its stockholders. The duo noted the company has laid out a three-year strategic plan and continued to launch products since Microsoft’s unsolicited offer in February.

Looking for Alternatives

The board is reportedly considering its options. Yahoo and day Warner’s AOL are additionally reportedly talking again. whether

reports in The Wall Street Journal hold true, it’s possible that moment Warner would fold AOL into Yahoo and form a cash investment for a 20 percent stake in the merged company. Yahoo would soon after repurchase billions of its shares at a price in the mid-$30s.

“Microsoft remains the most motivated and best capitalized alternative for Yahoo,” Stanford Group Co. analyst Clay Moran said in a note Thursday. “A Yahoo-AOL merger does not supply Yahoo shareholders value equivalent to the existing Microsoft bid.”

Is Yahoo Playing the Market?

Pund-IT Analyst Charles King isn’t quite certain whether Yahoo is exploring lifelines to remain independent or whether the company is merely trying to up the ante. The public back-and-forth and reported negotiations with would-be suitors could soon come to a head.

“From Yahoo’s point of view, its responsibility is to…

Original post by Chris Davies

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