Yahoo demands better Microsoft deal

US search firm rejects deadline but says it remains open to an improved offer.

    Yahoo said Microsoft's offer was "not in the best
    interests" of the firm [AFP]

    Bostock and Yang added that any transaction "must

     be at a value that fully reflects the value of Yahoo, including any strategic benefits to Microsoft, and on terms that provide certainty to our stockholders".

     
    Value 'impacted'
     

    Microsoft made an offer for Yahoo on Febuary 1, for $44.6 billion, or $31 per share.

     

    However a fall in Microsoft's stock price means the proposal now values Yahoo at only $29.62 per share, or just under $41 billion.

     

    In addition, Ballmer said in his letter on Saturday outlining the deadline that the US economic slowdown and volatile stock market had impacted Yahoo's value and there were indications that its search and page view shares have fallen.

     

    If successful, the merger would be the largest in software history and would also provide a serious rival to search giant Google.

     

    Since rejecting Microsoft's bid Yahoo has explored possible alliances with Google, News Corporation's MySpace and Time Warner's AOL, however no viable alternative appears to have emerged so far.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Gender violence in India: 'Daughters are not a burden'

    Gender violence in India: 'Daughters are not a burden'

    With female foeticide still widespread, one woman tells her story of being mutilated for giving birth to her daughters.

    The Muslims of South Korea

    The Muslims of South Korea

    The number of Muslims in South Korea is estimated to be around 100,000, including foreigners.

    Aamir Khan: The Snake Charmer

    Aamir Khan: The Snake Charmer

    Can Aamir Khan create lasting change in Indian society or is he just another Bollywood star playing the role of a hero?