- Joined
- Jan 31, 2005
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SAN FRANCISCO - Yahoo Inc. spurned Microsoft Corp.'s $44.6 billion takeover bid as inadequate Monday, betting that it can elicit a higher offer from the world's largest software maker or find another way to deliver a comparable payoff to its shareholders.
The rebuff by the slumping Internet pioneer had been widely anticipated after word of Yahoo's intention was leaked during the weekend.
In its formal response, Yahoo said its board had concluded Microsoft's unsolicited offer "substantially undervalues" the Sunnyvale-based company.
Yahoo indicated it could be lured to the negotiating table if Microsoft ups the ante, without mentioning the price it has in mind.
Read the entire article here:
http://news.yahoo.com/s/ap/20080211/ap_on_hi_te/microsoft_yahoo_25;_ylt=AvxpJvpVbsn5CgtBM6ZPHCSGOrgF
Its interesting to see how this will evolve. Will MS counteroffer?