A top Microsoft Corp. executive addressed key points on the company's bid to buy Yahoo Inc. in an internal memo that appears to be both a message to Yahoo and an attempt to address concerns among Microsoft staff over any deal.
Kevin Johnson, president of Microsoft's Platforms and Services Division, reiterated the Redmond, Wash., software maker's reasons behind its unsolicited offer, writing that a combination would provide a "compelling alternative in search and online advertising," according to a version of the memo posted on Microsoft's Web site. Mr. Johnson didn't specifically name Google Inc., the leader in both of those areas and the central target of the proposed Microsoft-Yahoo combination.
The memo comes at a lull in public comments over the bid. On Jan. 31, Microsoft made a $31-a-share offer to buy Yahoo. Yahoo's board rejected the offer days later, and the two companies have yet to enter formal negotiations. Microsoft, meanwhile, said it is mulling whether to try to force Yahoo into a deal by launching a proxy fight to replace Yahoo's board with people supportive of the combination.
