Microsoft's Board of Directors met on Wednesday, April 30, 2008 to discuss the company's plan to take over Yahoo. Microsoft was considering raising its bid from $29.06 a share to $32 or $33 to overcome the deadlock between the two companies. Steven Ballmer, the Chief Executive of Microsoft has asked for the support of some large Yahoo shareholders in their bid. Microsoft is upset because the share holders are asking for even higher offer some where in the range between $35 to $37 per share.

 

Microsoft had earlier said that if the deal is not confirmed by April 26, 2008, then it would start a legal battle to throw out the board members of Yahoo. It is to be noted that Yahoo had rejected the offer of Microsoft several times sighting undervaluation as reason behind the rejection. Microsoft initially offered $44.6 billion to Yahoo but with a fall in Microsoft's share price the stock and cash offer had dipped to $41.8 billion. However Yahoo's chief executive Jerry Yang has said that Yahoo is not opposed to selling itself to Microsoft at a higher price.

 

Meanwhile Yahoo has undertaken several steps to remain independent. It has even considered entering into a partnership with Time Warner's AOL unit and search giant Google. However when asked, the spokesmen for Yahoo, Google and time Warner declined to comment.