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02/11/2008 11:18 AM ID: 68401 Permalink   

Yahoo Set to Reject Microsoft


News reports are stating that Yahoo! is set to reject Microsoft's US$44.6 billion take over bid on the grounds of it being inadequate. The unsolicited offer amounts to US$31 a share, which is 62% more than the current price of Yahoo's shares.

A source close to Yahoo's dealings said the company was unlikely to accept any offer that falls below US$40 a share, a level at which Yahoo's shares were selling two years ago. Neither company has made an official comment on the reports.

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Yahoo has rejected Google's offer, but left the door open for a counter offer.
  by: RAD     02/12/2008 03:29 AM     
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