Yahoo rejects Microsoft offer

Internet firm says Microsoft's offer "substantially undervalues" the company.

    Analysts say Yahoo is angling for a better offer
    from Microsoft


    Newspaper reports last Friday had said that Yahoo was expected to reject the bid on the grounds that the amount offered was too low.

     

    'Haggling'

     

    Analysts also say Yahoo is both angling for a better price and guarding against any possible lawsuits from stockholders who feel they deserve more money.


    "Yahoo is not saying no at any price - they are saying the Microsoft offer is not strong enough"

    Rob Enderle, analyst

    "Right now they are haggling," Rob Enderle, a Silicon Valley analyst, told the AFP news agency.
     
    "Yahoo is not saying no at any price. They are saying the Microsoft offer is not strong enough."

    Any hostile bid by Microsoft to take over Yahoo would involve the US software giant making offers directly to stockholders and trying to replace Yahoo's board members in upcoming March elections.
     
    If successful, a merger of Microsoft and Yahoo would be the world's largest of two computer technology companies and create a formidable rival to Google.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    'We scoured for days without sleeping, just clothes on our backs'

    'We scoured for days without sleeping, just clothes on our backs'

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Unification: Saladin and the Fall of Jerusalem

    Unification: Saladin and the Fall of Jerusalem

    We explore how Salah Ed-Din unified the Muslim states and recaptured the holy city of Jerusalem from the crusaders.