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Times UP ! Microsoft says " Mum "

Sunday, April 27, 2008 Written By OS9USER At 2:06:00 PM

Steve Ballmer eats his words yet again.

The Microsoft deadline for Internet service company Yahoo to accept its 44.6 billion-dollar (28.5 billion-euro) acquisition offer expired at midnight Saturday, setting the stage for a hostile takeover bid by the software giant.

The expiration of the Sunday 0700 GMT deadline without comment from either side was likely to pave the way for an ugly proxy battle, a fight by Microsoft for a vote by Yahoo shareholders to place pro-Microsoft officials on its board of directors.

Ballmer also warned that any further delays could result in a less attractive offer for Yahoo.

But Yahoo's board of directors has said the offer "substantially undervalues" the California firm, insisting the company is worth at least 40 dollars a share.

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