Microsoft are apparently attempting a boardroom coup at Yahoo! within the next seven days in an effort to force the online search engine to begin serious talks or accept its $41 billion (£20.6 billion) hostile bid.
According to the rules that govern the Yahoo! set up, before the annual meeting any shareholder is able to nominate directors. This deadline for nominations is set for 14th March. If Microsoft’s nominations were to be successful, their appointment would be effective immediately.
It is assumed that only serious, formal talks about the previous offer would stop Microsoft launching such a coup.
Microsoft are determined to take control over Yahoo! because of Google’s dominance in the estimated $40 billion online advertising market, which is predicted to double over the next two years.
In February last year, Yahoo! told Microsoft that it was not for sale but did promise to devise ways in which the two companies to work together to fight Google.
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