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Microsoft Prepares Board, Next Move

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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