According to the Central News Agency, Microsoft Corporation issued a "final ultimatum" to Yahoo's acquisition case on the 5th. The chief executive of Microsoft wrote to the board of directors of Yahoo that day, limiting Yahoo to accept the acquisition proposal of $ 31 per share in cash and shares within three weeks. Otherwise, Microsoft will directly resort to Yahoo shareholders and try to elect a new list of Yahoo boards. At the end of January this year, Microsoft announced its intention to acquire Yahoo. The conditions proposed at the time were 62% higher than the direct purchase of Yahoo's market value of US $ 44.6 billion, but were rejected by Yahoo, the reason being that Microsoft had "seriously underestimated" the value of Yahoo.
After more than two months, based on the closing price of the stock market on the 4th, it was estimated that the market value of Yahoo was about $ 41 billion to $ 42 billion.
In a letter to the board of directors of Yahoo that day, Balmer, the head of Microsoft, wrote that if the board did not accept Microsoft's acquisition proposal of $ 31 per share in cash and shares before the 26th, Microsoft would directly resort to Yahoo shareholders And try to elect a new list of Yahoo boards to complete the merger.
The letter also pointed out that in the past two months or so, both the overall economy and the performance of Internet stocks have deteriorated, and Yahoo's performance has also shown a downward trend, including a decline in online search ownership and online advertising revenue.
He said that fairly speaking, given Yahoo's current performance, the acquisition terms offered by Microsoft in January are more impressive, and he believes that most of Yahoo's shareholders will agree with this view.