28 Apr 2008
The deadline for Yahoo to give a response to Microsoft's $44.6bn takeover offer has now expired, paving the way for a fierce battle to win shareholder approval.
Yahoo was given until last weekend to consider the offer, despite its prior rejection of the bid for being too low. Microsoft previously stated that it would aim to incite a shareholder revolt if its direct negotiations proved unsuccessful.
Both companies posted quarterly results last week. Microsoft's profit slipped 11 per cent to $4.39bn (£2.22bn), while revenue held steady at $14.45bn.
Meanwhile Yahoo's earnings jumped to $542m during the first three months, while sales rose nine per cent to $1.82bn.
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