Yahoo Officially Rejects Microsoft Offer

Yahoo officially rejected Microsoft’s $44.6 billion takeover offer on Monday, calling the bid too low. “After careful evaluation, the board believes that Microsoft’s proposal substantially undervalues Yahoo including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments,” the company said in a statement. The company said it would continue to evaluate all its options.
http://www.nytimes.com/2008/02/11/technology/11cnd-yahoo.htmlYahoo rejects Microsoft takeover bid
Yahoo formally rejected Microsoft’s unsolicited $31-a-share takeover bid today, claiming the offer – which values it at around $41bn (£21bn) – was too low.The internet firm said it had “carefully reviewed Microsoft’s unsolicited proposal with Yahoo’s management team and financial and legal advisors and has unanimously concluded that the proposal is not in the best interests of Yahoo and our stockholders”.
http://www.guardian.co.uk/business/2008/feb/11/microsoft.technologyYahoo! sparks $45bn bid fight with Microsoft
The search engine group, understood to be talking to others, rejects Microsoft’s offer as undervaluing its businessYahoo! formally rejected Microsoft’s hostile $45 billion (£23 billion) bid today, claiming that despite the 62 per cent premium offered by the software giant, the bid “substantially undervalues” the world’s No 2 search engine.The under-siege company said that it was “continually evaluating all of its strategic options” — code for saying that it would consider counter-proposals, although it will have to contend with further pressure from Microsoft, which has talked about forcing a shareholder vote.
http://business.timesonline.co.uk/tol/business/industry_sectors/media/article3350858.ece

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