Yahoo to spurn Microsoft’s 44 billion dollar offerFebruary 10th, 2008 - 4:30 pm ICT by admin
Washington, Feb.10 (ANI): The board of Yahoo Incorporated has decided to spurn Microsoft Corporation’s 44.6 billion dollar takeover bid.
News reports said Yahoo’s decision could lead to a showdown between two prominent technology companies, and in the light of this development, Internet search leader Google Incorporated’s chances of striking a deal with Yahoo appear bright.
There is however a possibility that Microsoft could try to override Yahoo’s board by directly approaching the latter’s shareholders. It would require Microsoft to oust Yahoo’s current 10-member board.
Alternatively, Microsoft could agree to raise the stakes and bid as much as 35 dollars for each Yahoo share.
Yahoo’s board reportedly reached its decision after exploring a wide variety of options, according to inside sources.
The sources said that Yahoo’s board felt Microsoft’s offer to be inadequate.
Led by company co-founder and board member Jerry Yang, Yahoo now will be under intense pressure to lay out a strategy that will prevent its stock price from collapsing again.
Yahoo had earlier spurned a Microsoft offer of 40 dollars per share, and sources said that the former is at least interested in this price being offered. (ANI)
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