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NEW YORK - A MAJOR investor in Yahoo has met with Microsoft Chief Executive Steve Ballmer to see if he would raise a US$42 billion (S$60 billion) unsolicited offer for the company, the New York Post reported.
Capital Research and Management, which owns more than 11 per cent of Yahoo shares and more than 6 per cent of Microsoft, wants to know how much more the software maker might pay if Yahoo rejects the initial offer, the Post said on Friday, citing a source familiar with the meeting.
Officials for Capital Research and Microsoft declined comment on the report.
Separately, the TechCrunch blog said Yahoo's board is due to meet on Friday to discuss the bid. Citing unnamed sources, the report said Yahoo advisors favour a deal, despite the interest of some executives to seek an alternative tie-up with Web search leader Google.
A Yahoo spokesman said the company's board was still 'carefully and thoroughly evaluating' the Microsoft offer but would not comment on when its board plans to meet. Microsoft made its offer public on Feb 1.
Analysts have said Microsoft could be persuaded to raise its cash and stock bid, now worth about US$29 per share based on Microsoft's share price on Friday, to make it easier for Yahoo co-founder and CEO Jerry Yang and his board to accept it.
Yahoo shares fell 9 cents to US$28.95 on the Nasdaq. Microsoft shares rose 1.8 per cent to US$28.62. -- REUTERS
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