Feb 9, 2008
Yahoo set to reject Microsoft offer?
According to a report on marketwatch.com, Yahoo is set to reject Microsoft’s $44.6 billion acquisition offer. The report references another news report that cites unnamed sources as saying that Yahoo’s board feels the $31 per share offer made by Microsoft “massively undervalues” Yahoo and fails to take into account “the risk in entering into an agreement that could later be voided by regulators.”
The unnamed source has claimed that Yahoo’s board believes Microsoft is “trying to take advantage of some recent weakness in the company’s share price in order to “steal” the company.”
The unnamed source has also indicated that Yahoo will not consider any offer under $40 per share.
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