Yahoo! formally said “No” to Microsoft offer
SAN FRANCISCO (Feb 11) - 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.
…Full Coverage: Microsoft - Yahoo!
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