Yahoo’s board of directors officially decided to turn off Microsoft’s hostile acquisition offer for 44.6$ Billion, price that presented $31 per share, a week ago. The rejection adds 2% to Yahoo’s share, 0.2% to Google’s share and -2% reduction on Microsoft’s share. In a press release, Yahoo says the bid is substantially lower than its real value and refuses to consider any offer under 40$ per share.

…”Yahoo! Board of Directors has carefully reviewed Microsoft’s unsolicited proposal with Yahoo!’s management team and financial and legal advisors and has unanimously concluded that the proposal is not in the best interests of Yahoo! and our stockholders.”

“After careful evaluation, the Board believes that Microsoft’s proposal substantially undervalues Yahoo! including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments.”

Continue reading Yahoo! Officialy Rejects Microsoft's Bid But The Story Isn't Over →