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Yahoo! officially rejects Microsoft's offer
Written by Danrok   
Monday, 11 February 2008 11:43
Yahoo! Inc. has now formally rejected Microsoft's buy-out offer, saying "After careful evaluation, the Board believes that Microsoft's proposal substantially undervalues Yahoo! including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments."

The chances are that Microsoft will up their original offer, I'm sure that they can afford to.  Although, these deals aren't always about cash alone, so Yahoo may wait for a more attractive offer from other interested parties.

It's also possible that Yahoo shareholders could force the Yahoo Board to sell to Microsoft. Investors who have been buying shares recently, forcing the price up, may well be looking for a quick return on their money.

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