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