Bill Miller Takes Yahoo's Side Against Microsoft

April 9th, 2008
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Legg Mason, which holds a large stake in Yahoo, said it was ready to offer support for Yahoo's independence if Microsoft lowers its buyout offer. Microsoft offered Yahoo $42 billion and then gave Yahoo three weeks to evaluate the offer before threatening to begin a proxy battle. Yahoo turned down the offer in hopes of a sweeter deal. Bill Miller, a portfolio manager at Legg Mason, believes Microsoft will end up paying what it takes to own Yahoo.
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