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Microsoft confirms it could renew its effort to buy all of Yahoo!

By Gary Jacobson

July 7, 2008 at 10:41am

As dissident shareholder Carl Icahn warned that Yahoo! is “moving toward a precipice” and “it is time for a change,” Microsoft said today it could renew its effort to buy Yahoo! The catch: First Yahoo! shareholders must vote in a new slate of directors at their Aug. 1 meeting.

Icahn is offering his own slate of directors at that meeting.

In its statement today, Microsoft said it concluded there was no possibility of doing a deal with the current Yahoo! board members.

“We confirm, however, that after the shareholder election Microsoft would be interested in discussing with a new board a major transaction with Yahoo!, such as either a transaction to purchase the “Search” function with large financial guarantees or, in the alternative, purchasing the whole company,” the statement said.

Henry Blodget, writing at Alleyinsider.com, said if there is a new offer for all of Yahoo! it won’t be near the previous offer of $33. “There’s no reason in the world they should pay more than $27,” he wrote.

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