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Yahoo to reject Microsoft bid

Discussion in 'General Discussions and Lounge' started by temi, Feb 11, 2008.

  1. temi

    temi Facilitator Webmaster


    Yahoo has reportedly decided to reject Microsoft's unsolicited takeover offer. Several newspapers and news agencies say Yahoo's board will on Monday dismiss the $44.6bn (£22.9bn) offer as being inadequate.
    When it was made, Microsoft's $31 a share offer was 62% above the level at which Yahoo's shares were trading.
    Yahoo's shares closed on Friday at $29.20, which may suggest doubt that the offer will be successful or that a higher price will be offered.
    A source quoted by the Wall Street Journal said that Yahoo's board would be unlikely to consider anything below $40 per share.

    source/full story: bbc

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