Yahoo to Reject Microsoft Bid: Latest! February 9, 2008
Posted by weirdoux in : Netbuzz , trackback
If you have an article about Microsoft acquired Yahoo! in your blog, then you must read this:
In a bid to remain independent, Yahoo plans to reject Microsoft Corp.’s unsolicited takeover offer, according to reports on the Wall Street Journal’s web site.
Quoting sources familiar with the situation, the Journal reports that Yahoo’s board feels the offer of $31 per share “massively undervalues” the company. A letter spelling out the position is expected to be sent Monday. Yahoo also expressed concern that Microsoft’s offer does not account for risks to Yahoo should the deal be overturned by regulators.
The Journal source said the company would be unwilling to consider an offer below $40 per share, which would represent a $12 billion increase over Microsoft’s original $44.6 billion bid. It is unclear if Microsoft would be willing to increase its bid by such a significant amount.
Microsoft bidded 31per share…Yahoo wants at least 40. So Yahoo stocks will plum again!
Maybe Google will buy them but Microsoft can still make another bid, Yahoo! just wanting billions more, who knows….?
As for myself, they have demanded so high because both Google and Microsoft are desperate for Yahoo!
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