- Top Tags
- Biz (2959)
- Yahoo (329)
- Microsoft (2471)
Yahoo formally declines Microsoft's $44 billion offer
Board of directors says it's "inadequate"
11 February 2008 15:06 GMT / By Amy-Mae Elliott
As was predicted, and we reported would happen, Yahoo has formally rejected Microsoft's unsolicited offer to buy the web company.
"The proposal is not in the best interests of Yahoo and our stockholders", Yahoo said in a statement.
"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."
Analysts now predict Microsoft will raise its offer by between $5 and $12 billion to try and entice Yahoo to sell, or could become "hostile" and directly approach Yahoo's shareholders.
It was reported from a source near the negotiations yesterday that Yahoo wants $40 per share as opposed to the $31 per share that Microsoft offered.
HARDWARE
iTablet launches from UK company Like the iPad but with USB ports, Flash, multi-tasking, choice of OS, HDMI...
CAMERAS
New Canon camera to be launched on 8 February? New models inbound?
HARDWARE
15 easy tips to make Windows boot up faster How to start up in a hurry without spending too much cash
Comments