This article was published 16 years ago

WSJ: Yahoo to reject Microsoft’s offer

The Wall Street Journal is reporting that Yahoo’s broad of directors will reject Microsoft’s $44.6 billion takeover offer, saying it “massively undervalues” the company and “does not account for the risk that a deal could be blocked by regulators.”  However, the source tells the journal that the company is still for sale

The source also said that the company is unlikely to consider any offer below $40 per share, according to the paper. Such a premium would increase the value of the takeover offer by $12 billion.

Microsoft was offer $62 a share and Yahoo will only accept anything below $40 a share?  This is starting to sound like Yahoo’s broad of directors didn’t want Microsoft to take control of the company.  This makes rumors of News Corp making a bid for Yahoo sound more realistic.