• The Wall Street Journal, Wednesday, April 30, 2008 10:32 AM

Microsoft's latest move in the Yahoo saga is "imminent" according to The Wall Street Journal. "Imminent" as in possibly today. One option Microsoft has is nominating a slate of directors to replace Yahoo's board. TechCrunch says it knows 8 of Microsoft's 12 proposed replacements, which includes former Fox Interactive Media chief Ross Levinsohn. The Journal says the software giant has now selected 10 nominees and three alternates, as Yahoo's poison-pill anti-takeover maneuver requires that Microsoft completely remove its board.

Nominating a board slate also buys Microsoft time to either scale back or walk away from its $42 billion bid, or go directly to Yahoo's board with a hostile acquisition offer. This "would represent a largely unanticipated middle path for Microsoft between walking away from its bid and pushing forward an aggressive hostile-takeover campaign," The Journal says. Microsoft has said it would announce its next move this week after setting a deadline of last Saturday before going hostile with its bid for Yahoo.

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