Yahoo is not opposed to a deal with Microsoft but Microsoft should pay more than $31 a share if it wants to buy the company, Yahoo plans to say in a letter to Microsoft, a person familiar with the matter said on Sunday.
n the letter to be sent on Monday, Yahoo is also expected to reject Microsoft's suggestion that its business is deteriorating, the person said.
Microsoft Chief Executive Steve Ballmer in a letter to Yahoo's board on Saturday threatened to lower his company's bid and mount a proxy campaign if the Internet company does not agree to a deal in the next three weeks.
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