Microsoft will begin a proxy battle for Yahoo, sources with the New York Times have reported. Microsoft, which has been expected to raise its cash-and-stock bid originally worth $44.6 billion, would seek to nominate a slate of directors by March 13, if Yahoo’s board did not enter talks. A person familiar with the matter told Reuters a proxy fight would cost about $20 million to $30 million but was not aware of Microsoft making the decision to pursue the fight.

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