Three weeks after Microsoft (NSDQ: MSFT) launched its bid for Yahoo (NSDQ: YHOO), Platform & Services President Kevin Johnson has sent an email to his divisional employees letting them know where things currently stand. For the most part, Johnson basically sticks to the established script: The company believes its offer for Yahoo is fair, and it’s looking forward to eventually sitting down with Yahoo’s board and making things happen. Assuming it can get an agreement out of Yahoo, Microsoft still anticipates a close in the second half of this year, but in the meantime, Microsoft and Yahoo are competitors: “It’s important that Microsoft employees not speculate with Yahoo! employees about the proposal or about what a deal would mean for the combined company.”  Some other key points:

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—Rationale: Nothing real new on this front: advertisers, publishers, customers, and developers will all benefit. So will shareholders, who will see improved efficiencies and an improved strategic position.

—Job security: Of course there will be layoffs, but there’s no reason yet for Microsoft employees to fear. After all, the company is still hiring like crazy, and the company would hope to place anyone whose job is made redundant.

—The brands: What will the companies do with their various brands, like MSN, Live and Yahoo? Short answer: no answer yet. The Yahoo brand has value, so that’s not going away. Other than that, management still needs to figure things out: “The Yahoo! brand is one of the reasons the combination of the two companies would create so much value.  It is premature to say which aspects of the brands and technologies we would use in our combined offerings.”

—Melding cultures: This is probably one of the biggest challenges that lies ahead. Mainly corporate speak though from Johnson: “Both companies share a passion for great engineering, creativity, and development of services and technologies that truly can change the world.  Respect for both the creative and analytical aspects of advertising is core to both companies, along with recognition that advertising is an industry that represents opportunity and growth.  We would have an opportunity to bring together the best of both companies – Microsoft’s culture of innovation, and long-term commitment to tough R&D problems, with Yahoo!’s blend of Web-centric DNA and innovative engineering, 21st century media expertise, and advertising talent. “

—Geography: Microsoft would maintain campuses in Silicon Valley and in Redmond, naturally: “Silicon Valley is one of Microsoft’s largest presences outside our Redmond headquarters, with nearly 1,800 employees in a variety of key engineering and business roles.  Yahoo!’s campus houses over 10,000 employees and plays a key part in their innovative culture.”

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