Yahoo! to reject Microsoft bid
Posted by Niall in Media, Microsoft, Technology, Website, Yahoo!, archive, controversy, legal on 10-02-2008
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Just saw this… According to the Wall Street Journal:
After a series of meetings over the past week, Yahoo’s board determined that the $31 per share offer “massively undervalues” Yahoo [...] The decision to reject the offer signals that Yahoo’s board is digging in its heels for what could be a long takeover battle. The company is unlikely to consider any offer below $40 per share [...] It’s unclear whether Microsoft would be willing to pay such a premium, which would increase the value of its original cash and stock bid by more than $12 billion. [...] Yahoo’s board appears to be betting that Microsoft doesn’t want to “go hostile” and try to acquire the company against the wishes of management and the board.
Oh, things are hotting up alright…
[edit]: More here. Currently both MS and Yahoo! are refusing to comment on this report…

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