The Wall Street Journal claims -- via an unnamed source -- that Yahoo is going to reject Microsoft's $44.6 billion offer. The main reason for the rejection: It's just not enough. From the article:
"Yahoo's board believes that Microsoft's is trying to take advantage of the recent weakness in the company's share price to 'steal' the company. The decision to reject the offer signals that Yahoo's board is digging in its heels for what could be a long takeover battle. The company is unlikely to consider any offer below $40 per share, the person said."
The Wall Street Journal is usually quite reliable with inside sources. Nevertheless, it's still unconfirmed, and should not be treated as fact unless Yahoo or its officers publicly confirm what's going on.
Stay tuned for updates ...
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