Jerry Yang let Microsoft know he wasn’t going to be the first to back down

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(Continued) The RFS Newsletter, Apr. 26, 2008. Page 10
For its part, Yahoo CEO Jerry Yang said that his company wasn’t interested in a deal unless it was offered a lot more money. Microsoft’s No. One takeover target has until April 26 to accept the bid that would buy out Yahoo at slightly less than $30 a share or else face a costly and potentially "bloody" proxy fight.

Yang let Microsoft know he wasn’t going to be the first to back down. Yang repeatedly said to reporters the deal “substantially undervalues” Yahoo and that he will continue to do whatever it takes to make a deal that will fully satisfy Yahoo's shareholders. “Our executive board and management team continue to be open to any and all alternatives, including a sale to Microsoft,” said Yahoo's CEO.

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