Microsoft Cuts Deal With Activist Shareholder to Avoid Fight

The saga of Steve Ballmer’s departure-retirement from Microsoft deepened on Friday with an agreement between Microsoft and an activist shareholder, ValueAct Capital, that averts a potentially nasty battle over the company’s lagging performance. Microsoft said it it has signed a “cooperation agreement” with ValueAct for regular meetings between Mason Morfit, president of ValueAct Capital, and Microsoft’s board and management to “discuss a range of significant business issues.”