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| Time:
10:54 EST/15:54 GMT | News Source:
BBC |
Posted By: Byron Hinson |
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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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Read Only Comments
Return to News
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Displaying Comments 1 through 3 of 3
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This is an archived static copy of ActiveWin.com.
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#1 By
8556 (12.210.39.82)
at
Monday, February 11, 2008 11:12:00 AM
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I heard that yahoo bought everyone on their board strings of garlic to wear. Saying no turns out to smell better.
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#2 By
28801 (65.90.202.10)
at
Monday, February 11, 2008 11:21:18 AM
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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).
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#3 By
3653 (65.80.181.153)
at
Monday, February 11, 2008 01:08:46 PM
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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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