[A2k] Yahoo To Reject Microsoft Bid

[Jeffrey A. Williams]

All,

  Many outlets are echoing a subscribers-only report in the Wall Street
Journal that
http://www.nytimes.com/2008/02/09/technology/09cnd-yahoo.html?_r=1&ex=1360299600&en=0a10211874f4e291&ei=5088&partner=rssnyt&emc=rss&oref=slogin

Yahoo's board has decided to reject Microsoft's takeover
offer. The NYTimes offers the only other independent reporting so far
confirming this claim. The report says that Yahoo will formally reject
the offer in a letter on Monday, since they believe it "massively
undervalues" the company. Microsoft offered $31 per share, a 62% premium

on the stock price at the time, for Yahoo; but the latter believes that
no offer below $40 per share is tenable. The AP has some
http://ap.google.com/article/ALeqM5g9cE_gI-aemyNxZQb7YOBC3rsNlQD8UMFI480

background on Yahoo's options in responding to the bid.

Regards,

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