I just came across this headline on Google Finance
Microsoft sets deadline on Yahoo offer...threatens hostile bid
A related article, Microsoft threatens Yahoo with proxy fight, offers some additional information.
CEO Ballmer set a three-week deadline for their offer, after which he says Microsoft will take a lower offer directly to the shareholders, in a hostile bid to take control of Yahoo.
After the statements at Mix08 by Steve Ballmer that implied Yahoo was key to reaching critical mass in Microsoft's business initiatives into the world of search and advertising, where "search is the killer application for online advertising", this move is Steve's attempt at forcing of a response to move forward by setting this deadline and consequences for missing it.
The statement by Steve should come as no surprise to anyone. Steve Ballmer is after all, that good.
