Yahoo's board is planning to reject Microsoft Corp.’s unsolicited and forced $44.6 billion offer to acquire Yahoo according to the Wall Street Journal. Yahoo said this offer massively undervalues their company.
According to the Wall Street Journal (link requires subscription) Yahoo has decided to follow its own course rather than accept Microsoft Corp.’s $44.6 billion offer.
The past week, Yahoo had many meetings with its shareholders and didn’t reveal exactly what they were planning to do. The Yahoo board has now decided that the $31-per-share offer “massively undervalues” Yahoo according to a board member who spoke with the Wall Street Journal.
Google
voiced opposition to this merger and said it will stifle innovation and openness and offered to help Yahoo with its adverting plans.
Whether Yahoo will accept to work with Google now is not clear. More details will follow when they become available.
Did Yahoo do the right thing by refusing this Microsoft offer?
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