Yahoo ‘to reject Microsoft offer’

Posted on February 11, 2008 

Yahoo ‘to reject Microsoft offer’

Yahoo has reportedly decided to reject Microsoft’s unsolicited takeover offer.

Several newspapers and news agencies say Yahoo’s board will on Monday dismiss the $44.6bn (£22.9bn) offer as being inadequate.

When it was made, Microsoft’s $31 a share offer was 62% above the level at which Yahoo’s shares were trading.

Yahoo’s shares closed on Friday at $29.20, which may suggest doubt that the offer will be successful or that a higher price will be offered.

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