With Proxy Fight Threat, Is Microsoft Boxing Yahoo In--or Itself?

As everyone waits for Yahoo to make the next move in Microsoft’s unsolicited bid to buy the Internet portal, I’m starting to wonder if the ball’s actually still in Microsoft’s court. As it stands, Yahoo has declined Microsoft’s initial offer, and as it has courted a number of alternate bidders with no apparent success yet, Microsoft this week ratcheted up the pressure with a threat to launch a proxy fight to replace Yahoo’s board. But it sure doesn’t look like Yahoo is in any big hurry to respond.

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