Ballmer given green light on Yahoo by board of directors

The Microsoft board Wednesday gave CEO Steve Ballmer “broad discretion to either go hostile or abandon the Yahoo pursuit” but the company’s decision will probably not be made and announced until later this week, the Wall Street Journal reports.

The WSJ, quoting “people familiar with the matter,” says price remains the issue. Microsoft’s original and only offer is now valued at about $29. Major Yahoo shareholders, management and the board are looking for at least $35 a share, the WSJ quotes it sources as saying.

Each dollar above $29 increases the total cost of the deal by about $1.3 billion.