Microsoft Puts Pressure on Yahoo

Over the weekend Microsoft send the Yahoo board a letter warning that it would begin a proxy solicitation to take control of the Yahoo board if the companies did not reach a negotiated deal in the next three weeks.  In that event, the letter went on to say, the price Microsoft offered might be lower than the price it offered in January, a combination of cash and stock worth at that time $31 per share and now valued at closer to $29.  Microsoft also noted that Yahoo's business appeared to have deteriorated in that time.  Yahoo is expected to reply today.  NYTimes, Yahoo Is Said to Rebuff Microsoft Threat Over Bid; WSJ, Microsoft Ratchets Up Deal Pressure on Yahoo.