You know it's a slow news day when the top story concerns a board meeting at which no decision was made. But that's where we're at in the seemingly never-ending drama of Microsoft v. Yahoo!: Microsoft's board of directors met yesterday to discuss how to proceed with regards to the company's Yahoo! takeover efforts. Put simply, nothing was decided.
The board did, however, offload the decision making entirely to Microsoft CEO Steve Ballmer, allowing him to decide whether to proceed with the hostile takeover bid or simply walk away. The famously indecisive Ballmer, for his part, has reportedly called some of Yahoo!'s largest shareholders to garner their support.
Beyond that, news is pretty thin at this point. "The Wall Street Journal" reports that Microsoft is considering raising its Yahoo! bid from $31 a share to as much as $33 a share, despite repeated public statements to the contrary. But Yahoo!'s biggest shareholders have said that a bid of at least $35 a share would be required to get the deal made.
The waiting game continues.