Yahoo Board to Reject Microsoft Bid

YAHOO BOARD TO REJECT MICROSOFT BID
[SOURCE: Wall Street Journal, AUTHOR: Matthew Karnitschnig matthew.karnitschnig@wsj.com]
Yahoo's board plans to reject Microsoft Corp.'s unsolicited $44.6 billion offer to acquire the Web giant. After a series of meetings over the past week, Yahoo's board determined that the $31 per share offer "massively undervalues" Yahoo. It also doesn't account for the risks Yahoo would be taking by entering into an agreement that might be overturned by regulators. The board plans to send a letter to Microsoft today, spelling out its position. Yahoo's board believes that Microsoft's is trying to take advantage of the recent weakness in the company's share price to "steal" the company. The decision to reject the offer signals that Yahoo's board is digging in its heels for what could be a long takeover battle. The company is unlikely to consider any offer below $40 per share.
http://online.wsj.com/article/SB120257515426256541.html?mod=djemalertTECH
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* Yahoo set to rebuff Microsoft bid as too low
http://www.reuters.com/article/technologyNews/idUSN0954824320080209

* Yahoo's Rejection Pressures Microsoft To Mull a New Bid
http://online.wsj.com/article/SB120257515426256541.html?mod=todays_us_marketplace

* MicroHoo
[Commentary] Antitrust issues to consider -- if the deal goes through.
http://www.washingtonpost.com/wp-dyn/content/article/2008/02/10/AR2008021001917.html
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* Report: Yahoo may buy AOL
http://www.mercurynews.com/ci_8228504

* Yahoo seeks to restart merger talks with AOL: paper
http://www.reuters.com/article/internetNews/idUSL1164099920080211

* Investment firm urges Yahoo to take Microsoft offer
http://www.usatoday.com/printedition/money/20080211/1b_msoftyahoo11.art.htm

* Yahoo Bidder Wants a More Aggressive Microsoft
Christopher P. Liddell, the behind-the-scenes architect of Microsoft’s hostile takeover, the company’s first unsolicited bid and perhaps the most audacious attempt by a technology company to wrestle control of a competitor.
http://www.nytimes.com/2008/02/11/technology/11dealx.html?ref=todayspaper