Microsoft Writes Yahoo: BoomTown Decodes the Letter, So You Don’t Have To! | Kara Swisher

"Steve wrote: Due to the importance of these discussions and the value represented by our proposal, we expect the Yahoo! Board to engage in a full review of our proposal.

My leadership team and I would be happy to make ourselves available to meet with you and your Board at your earliest convenience. Depending on the nature of your response, Microsoft reserves the right to pursue all necessary steps to ensure that Yahoo!’s shareholders are provided with the opportunity to realize the value inherent in our proposal.

Translation: Let’s not call it an offer you can’t refuse, which sounds so thuggish. Let’s call it an offer the refusal of which you can’t."