Microhoo Board Drama!

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punch1.jpgADOTAS – Microsoft Corp. has been biding its time and strategically plotting its next move since January 31 when it offered to buy competitor Yahoo Inc. for $44.6 billion – and was officially rebuffed in early February. But all of their plans may be for naught …

The two companies met (no demonstrable progress ensued), there were rumors (courtesy of Citigroup analyst Mark Mahaney) that Microsoft would raise its bid from $31 a share to $34 a share … but in reality, the software giant’s ace in the hole was its widely reported plan to nominate Microhoo-friendly board members to Yahoo’s board.

Brilliant!

Except … according to The New York Post, they can’t get anyone to play ball.

Microsoft has had a list of candidates drawn up all month, but so far, no one’s biting, the Post reports. So what’s holding them back? Concerns about nasty negotiations, being part of a hostile takeover and the risk of alienating top industry players reportedly has the candidates running for cover.

Former Netscape CFO and current Sun Microsystems and CNET board member Peter Currie, former Viacom CEO Tom Freston and former head of TCI Communications and AT&T Leo Hindery may have been among the people approached by Microsoft, the Post reports.

Microsoft has 10 days left to get people on Yahoo’s board and make all of their Microhoo dreams come true.

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