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Investor says Microsoft's Yahoo offer high enough

Time: 01:01 EST/06:01 GMT | News Source: Reuters | Posted By: Kenneth van Surksum

Money Manager Bob Olstein, who owns about one million shares of Microsoft Corp, is urging the company to resist pressure to raise its $31 dollar per share offer for Yahoo Inc and to make it an all-cash deal.

"Under no circumstances should you raise your price," Olstein said in a letter to Microsoft chief financial officer Christopher Liddell, dated February 12 and made public on Wednesday.

"We believe your recent offer for Yahoo is materially above Yahoo's value as an independent company," Olstein said. The Microsoft offer is valued at about $42 billion.

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