Yahoo will reject Microsoft takeover bid

Wall Street Journal reports that Yahoo plans to reject the Microsoft takeover bid.

Yahoo will reject Microsoft takeover bid According to a report from the WSJ, Yahoo Inc. will reject the takeover bid made by the software giant Microsoft. According to unnamed sources cited by the financial publication, Yahoo believes that the offered $31 per share is way below the actual value of the company. The source says that Yahoo will not even consider an offer less than $40 per share.

Once again the odds makers were right on the target - the online sportsbook Bodog Sports has odds on the Microsoft-Yahoo takeover and according to the bookie, the odds that there will be no deal by July 31st are favorite -350 and if a deal finalizes between the two companies by that date, Bodog will pay out on +225.

Microsoft made the unsolicited Yahoo takeover bid on February 1st, valued at $44.6 billion in cash and stock. At that time the offer was a 62% premium over Yahoo stock price one day earlier. Yahoo stock closed at $29.20 on Friday.

Published on 02/10/2008