After the search company announced its decision yesterday to extend the March 14 deadline for the selection of a new board, Yahoo has left it to Microsoft to make the next move in a long-running takeover bid, amidst reports the software giant may be prepared to offer a lucrative cash deal for the company.
Oracle extended the deadline for tendering shares in its hostile takeover bid for PeopleSoft, the company announced Thursday.
After having snubbed Microsoft's initial takeover proposal, reports have indicated that Yahoo is still counting on the software giant to mount another acquisition bid, should its attempts to play the field backfire.
Oracle has warned BEA Systems that its US$6.7 billion buyout offer will expire on Sunday, unless the middleware company agrees to put its offer before shareholders for a vote.
Yahoo has yet to get a large investor to step forward and defend the search giant, but on Tuesday, it scored a reconfirmation of an endorsement from Legg Mason, its second-largest shareholder, according to a report in The Wall Street Journal.
As Microsoft's deadline for Yahoo to accept its takeover bid passes, the tech world is still waiting for information from either company on their wedding plans.
A single phone call on Friday evening brought the long-running Oracle-PeopleSoft fight to a close, Oracle President Chuck Phillips revealed.
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