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  Yahoo rejects Microsoft approach
Time: 10:54 EST/15:54 GMT | News Source: BBC | Posted By: Byron Hinson

Yahoo has rejected a takeover bid worth more than $40bn (£20.5bn) from software giant Microsoft because it is too low. Yahoo said the offer "substantially undervalues" the company and is not in shareholders' interests. Microsoft's offer was worth $31 a share, 62% above the level at which Yahoo stocks were trading when the offer was made on 1 February. A merged Microsoft and Yahoo would be one of the biggest technology firms, and would rival industry leader Google.

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#1 By 8556 (12.210.39.82) at Monday, February 11, 2008 11:12:00 AM
I heard that yahoo bought everyone on their board strings of garlic to wear. Saying no turns out to smell better.

#2 By 28801 (65.90.202.10) at Monday, February 11, 2008 11:21:18 AM
This may work out for MS. I'm no fan of this deal, but I would wait about a month or more for Yahoo stock to drop then offer even less (that's probably why I'm just a programmer).

#3 By 3653 (65.80.181.153) at Monday, February 11, 2008 01:08:46 PM
It appears msft put their yahoo money in a checking account, and bought Danger with the 10 days worth of interest.

http://www.danger.com/press/pr.php?cat=2008&id=20080211

No IPO for you Danger!

This post was edited by mooresa56 on Monday, February 11, 2008 at 13:09.



 

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