After yesterday’s story that the Yahoo board were going to make a decision on the Microsoft offer, today’s story in the WSJ is that the Yahoo board want more money. Unsurprising this isn’t, however the price being discussed of $40 is double that at which Yahoo shares were being traded pre-acquisition. Given the first bid was priced high enough to discourage any other rival bidders, its difficult to see Microsoft increasing the offer as significantly as this, leading down the path to some boardroom powerplays.
If you want to keep track of how the acquisition (probably soon to be hostile takeover) is going, check out our new Microsoft-Yahoo page. Onto the second chapter we go.