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April 5 (Bloomberg) -- Microsoft Corp. gave Yahoo! Inc. three weeks to agree on a takeover, threatening to reduce its $44.6 billion unsolicited offer and replace the Internet company`s directors if they reject negotiations.
If the two can`t reach an agreement in that time, Microsoft plans to propose its own board slate and take its case to Yahoo shareholders, Chief Executive Officer Steven Ballmer said in a letter to the board today. He suggested that the deal`s value might decline if Microsoft takes the bid directly to investors.