Yahoo To Microsoft: Don't Wait For Icahn Board

Sunnyvale, CA (AHN) - Yahoo Monday released a statement urging software giant Microsoft make an "immediate" acquisition proposal, rather than wait for the outcome of an upcoming board election.

"If Microsoft and Mr. Ballmer really want to purchase Yahoo!, we again invite them to make a proposal immediately," the Internet company said, replying to an earlier letter by Carl Icahn to Yahoo shareholders. In that letter, Icahn suggested the software giant would be interested in some transaction if Yahoo's board changed.

In the statement, Yahoo's leaders said it approached Microsoft CEO Steve Ballmer about restarting negotiations, but Ballmer was no longer interested in talking -- even at the price that Yahoo CEO Jerry Yang had rejected.

"Now Mr. Ballmer and Mr. Icahn have teamed up in an apparent effort to force Yahoo! into selling to Microsoft its Search business at a price to be determined in a future 'negotiation' between Mr. Icahn's directors and Microsoft's management, the statement read.

Earlier Monday, billionaire investor Carl Icahn said he had held several talks with Microsoft about the software giant possibly acquiring Yahoo's search business or the entire company.