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Yahoo Rejects Microsoft Bid

Category: Internet, General News
Posted: 04:48PM

BBC News -

Microsoft's bid was worth over $40bn, yet Yahoo are saying that "substantially undervalues" the company. This is even though the bid from the Redmond giant was worth $31 a share. That is 62% above the level Yahoo shares were trading at when the offer was made. It is rumoured that that board members at Yahoo would be unlikely to accept an offer below the $40 a share mark. Analysts are also speculating that Microsoft will come back with an improved offer for the company, which if successful would give Google a worthy competitor in its main sector. If the two companies do manage to come to an agreement, it could be beneficial to them both, as they would become a huge player in the online ads market (which Google currently leads).

I guess we'll just have to wait and see how this one plays out.

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