February 11, 2008
Yahoo Rejects Microsoft Offer
Yahoo! has formally rejected Microsoft's unsolicited offer for the company. The board basically thought the offer of $44.6 billion undervalued the company. This will either prompt Microsoft to raise their offer, or pursue a host of other tactics to get the stockholders to sell. Complicating this is the fact that Microsoft stock has dropped somewhat since the offer was made, making the deal less valuable to Yahoo! shareholders.
Here's the text of the email Jerry Yang sent to employees regarding the board's decision.
February 11, 2008 | Permalink
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