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Microsoft threatens Yahoo with proxy fight

8:04 pm on Apr 5, 2008 (gmt 0)

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Microsoft Corp. sent a letter to the Yahoo Board of Directors Saturday setting a three-week deadline for moving forward on its more than $40 billion buyout offer.

The letter signed by Microsoft CEO Steve Ballmer said Microsoft will take its case directly to Yahoo shareholders and work to elect a new slate of directors, if the board doesn't respond by the deadline by April 26.

9:01 pm on Apr 5, 2008 (gmt 0)

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Now, this is getting interesting…, sounds like the gloves have come off.