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Yahoo Inc.'s board plans to reject Microsoft Corp.'s $44.6 billion bid to buy the Internet pioneer, The Wall Street Journal reported on its Web site Saturday.
Board members concluded the unsolicited offer massively undervalues the company, a person familiar with the situation told the newspaper.
The bid was made public Feb. 1.
related story
:source: Source: http://finance.comcast.net/www/news..../09/883389.xml
Good. I have M$ stock and Yahoo would have been a drag.
Update in storyQuote:
Yahoo has formally rejected Microsoft's USD 44.6 billion takeover bid.
In a statement, Yahoo said that its board "unanimously concluded that the proposal is not in the best interests of Yahoo and our stockholders." Yahoo also said that the offer substantially undervalues the company, failing to take into account its strong brand and global audience.
"The board of directors is continually evaluating all of its strategic options in the context of the rapidly evolving industry environment and we remain committed to pursuing initiatives that maximize value for all stockholders," the statement read.
good, im sick of microsoft owning everything
I couldn't ever see them as the same :ermm:
whats going to be the new yahoo page.. lol
let as wait to se the news