Yahoo Board to Reject Takeover Bid From Microsoft
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Yahooâs board decided the $44.6 billion bid undervalues Yahoo, a person familiar with the matter said.
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Yahoo Inc rejected Microsoft  Corp's unsolicited $41.6 billion takeover offer as too low on  Monday, forcing the software maker to either sweeten the bid or  adopt a hostile approach to clinch a deal.
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Yahoo&#39;s board of directors plans to reject&#160;Microsoft&#39;s unsolicited $44.6 billion takeover bid,&#160;The Wall Street Journal reported Saturday, citing as its source &quot;a person familiar with the situation.&quot;According to the report, the source said the Yahoo board has determined that the $31-per-share offer &quot;massively&#160;undervalues&quot; the online services company. In addition, Microsoft&#39;s buyout bid doesn&#39;t take into consideration the business risks that Yahoo would be taking if it entered into an agreement that in the end might not be approved by government regulators, the source told the Journal.According to the Journal, Yahoo&#39;s board intends to send Microsoft a letter on Monday, detailing its position.A Yahoo spokeswoman declined to comment on the report today. &quot;We are not providing details on the board&#39;s review process,&quot; she wrote. &quot;Yahoo&#39;s board is carefully and thoroughly evaluating the Microsoft proposal in the context of all of the company&#39;s strategic alternatives, and will pursue the best course of action to maximize long-term value for shareholders.&quot;Microsoft, which announced its offer for Yahoo on Feb. 1, couldn&#39;t be reached for comment today. The offer is a combined cash-and-stock deal; in announcing the bid, Microsoft said Yahoo shareholders could choose to receive either cash or Microsoft stock, although it added that the total consideration would be equally split between the two forms of payment.Yesterday, published reports said that Yahoo&#39;s board was meeting to discuss the offer.Yahoo is still evaluating other options,&#160;including a search advertising partnership with Google, according to today&#39;s report by the Journal. It also may still be open to a longer negotiation with Microsoft: The Journal said it was told by the source that Yahoo would be unlikely to consider any offers below $40 per share.If so, that would require Microsoft to raise its original offer by at least 29 percent, or about $13 billion. In other words, the cost for Microsoft to become a more credible rival to Google in the search and online advertising markets could start at about $57.6 billion.Google has been doing what it can to scuttle the Microsoft takeover bid, including playing the antitrust card by asking, in a blog post by one of its executives last Monday, whether Microsoft might &quot;attempt to exert the same sort of inappropriate and illegal influence over the Internet that it did with the PC?&quot;Microsoft quickly shot back, issuing a statement saying that a combination of it and Yahoo merger would &quot;create a more competitive marketplace.&quot;(Eric Lai contributed to this story.)Computerworld is an InfoWorld affiliate.
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Microsoft Friday unveiled a hostile bid of 44.6 billion dollars for Yahoo in an effort to merge the world's biggest software company with a major Internet player to take on the Google juggernaut.
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Battle begins! !!!!! Yahoo!'s board of directors has formally rejected Microsoft's hostile takeover bid at a meeting in New York.â¦
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SAN FRANCISCO -- Yahoo Inc. spurned Microsoft Corp.'s $44.6 billion takeover bid as inadequate Monday without explaining how its management will match the payoff that the slumping Internet icon's shareholders would have received had the unsolicited offer been accepted.
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Confirming weekend rumors, Yahoo rejected on Monday Microsoft's US$44.6 billion cash-and-stock offer, saying th...
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Confirming&#160;weekend rumors, Yahoo rejected on Monday&#160;Microsoft&#39;s $44.6 billion cash-and-stock offer, saying the unsolicited proposal substantially undervalues the company.
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Yahooâs board decided that Microsoftâs $44.6 billion hostile bid undervalues Yahoo, a person familiar with the matter said.
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Yahoo Inc rejected  Microsoft Corp's unsolicited $41.6 billion takeover offer as  too low on Monday, forcing the software maker either to sweeten  the bid or adopt a hostile approach to clinch a deal.
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Blog: Yahoo shareholders reject censorship, executive pay proposals, re-elect all board members at shareholder meeting
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Yahoo Inc's board met by telephone on  Friday and discussed strategy for getting Microsoft Corp to  raise its $42 billion offer for the company and the possibility  of hiring Google Inc to run Yahoo's search, the Wall Street  Journal said.
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Yahoo's board is reported to be planning to reject Microsoft's unsolicited offer as being too low.
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Microsoft Corp on Friday said it had offered to acquire Yahoo Inc in a proposed cash and stock deal valued at $44.6 billion.
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If Yahooâs board resists the offer, Microsoft wold have to pursue a proxy contest.
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NEW YORK/SEATTLE  - Yahoo Inc  on Monday  rejected Microsoft Corp's  unsolicited $41.5 billion  takeover offer as too low, forcing the software maker to either  sweeten its bid or adopt a hostile approach to clinch a deal.
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Microsoft said Friday it had offered to buy struggling Internet firm Yahoo for 44.6 billion dollars (30.0 billion euros) in a bid to take on Google in the crucial battle for online revenues.