Yahoo! has confirmed sending a rejection letter to Microsoft for their $44.6 billion take over offer stating that Microsoft has greatly undervalued it. Instead Yahoo! is reconsidering a deal with AOL after rejecting an earlier offer from them.
Yahoo confirms rejection letter to Microsoft
Yahoo! set to revive merger talks with AOL
Related post: Microsoft offers to buy Yahoo for $44.6 billion!
“Microsoft Corp., the world’s biggest software maker, made an unsolicited $44.6 billion offer for Yahoo! Inc. to challenge Google Inc.’s dominance in Internet search services and advertising.The $31-a-share bid of cash or Microsoft stock is 62 percent more than Yahoo’s closing price yesterday. Before today, Yahoo had dropped 18 percent this year in Nasdaq Stock Market trading, and said this week that fourth-quarter profit fell 23 percent.” – Bloomberg