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In
his letter to Yahoo board of directors,
Microsoft CEO Steve Ballmer has said, "It
is unfortunate that by choosing not to enter
into substantive negotiations with us, you
(Yahoo) have failed to give due consideration
to a transaction that has tremendous benefits
for Yahoo's shareholders and employees.
We think it is critically important not
to let this window of opportunity pass."
"If
we have not concluded an agreement within
the next three weeks, we will be compelled
to take our case directly to your shareholders,
including the initiation of a proxy contest
to elect an alternative slate of directors
for the Yahoo! Board," said Ballmer
in his letter. "If we are forced to
take an offer directly to your shareholders,
that action will have an undesirable impact
on the value of your company from our perspective
which will be reflected in the terms of
our proposal."
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