Yahoo plans to reject Microsoft offer as too low
According to the Wall Street Journal, search engine giant Yahoo plans to reject software giant Microsoft's takeover bid as too low. The Yahoo board of directors believes the company is «massively undervalued» at $45 billion.
According to the Wall Street Journal, search engine giant Yahoo wants to reject the purchase offer from software giant Microsoft as too low. In the opinion of Yahoo's board of directors, the company is "massively undervalued" with the offer of 45 billion dollars, the newspaper reported in its online edition on Saturday. This could lead to a long takeover battle for the ailing Internet company in the coming weeks and months.
Microsoft offered 31 dollars per share just over a week ago. Yahoo is not willing to accept offers below 40 dollars per share, reports the Wall Street Journal, citing informed persons.
The Board of Directors will write to Microsoft on Monday to explain its position. If Yahoo rejects the offer, it can either seek to improve its position or cooperate with market leader and competitor Google.
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Microsoft offered 31 dollars per share just over a week ago. Yahoo is not willing to accept offers below 40 dollars per share, reports the Wall Street Journal, citing informed persons.
The Board of Directors will write to Microsoft on Monday to explain its position. If Yahoo rejects the offer, it can either seek to improve its position or cooperate with market leader and competitor Google.
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