Several reports yesterday had Microsoft executives considering, though not yet committing to, raising their bid for Yahoo. If they don't, they either have to let Yahoo go, or withdraw the bid and wait
for the stock price to fall, setting the stage for a hostile takeover. Microsoft had given Yahoo until April 26 to accept the $41.8 billion bid.
Pandia believes Microsoft will
ultimately get what it wants, if only because it desperately needs Yahoo's content and search engine to meet the threat from Google -- and because Yahoo's leadership hasn't developed a viable
alternative. But expect an offer closer to $33 or $35 a share.
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