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Yahoo Rejects Microsoft's $44.6bn Takeover Bid

NEW YORK (CNNMoney.com) -- Yahoo formally rejected the $45 billion unsolicited bid from Microsoft on Monday, with the Internet firm's board issuing a statement saying the offer is not in the best interest of shareholders.

"The board believes that Microsoft (MSFT, Fortune 500)'s proposal substantially undervalues Yahoo (YHOO, Fortune 500). 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," said the statement.

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Joey Gladstone3392d ago

I have to admit that Yahoo really has shown a lot of courage in the face of massive amounts of money thrown at it.......I mean how can anyone, or any company turn down $45 billion.......yes thats Billion with a B.........what is Microsofts annual income anyways if they can afford to just throw around billions??...
...
...
....."The JOEY has Spoken"

gta_cb3392d ago

i know what you mean.

also i am surprised this took so long to be posted, i saw this on Sky or bbc news yesterday afternoon.

PS360WII3392d ago

Well Yahoo never cared for MS so it was a matter of principle not dollar signs

v1c1ous3392d ago

it's more like "we are worth a lot more cash, and we're not really in that bad a bind for now"

there's nothing about principles here. if MS would have added 10 more Billions, they would have flipped over and let MS pet them on the stomach

PS360WII3392d ago

Everyone has a price they say. Yet I'm pretty sure Yahoo has openly stated once before they don't like MS. If anything they'd want Apple to buy them up or something. Is Yahoo really that in bad of shape to sell out though?

IntelligentAj3392d ago

It's actually not in bad shape at all. MS wanted to buy them to spearhead their was with Google.

MikeGdaGod3392d ago

glad to see some companies still have some balls

TheTwelve3392d ago

Amen. And honor. And want to keep competition alive, which is healthy.

12

HD DVD3392d ago

thats what you get for promising me the world!

tweaker3392d ago

Hahahahahaha I find this funny as hell.

Keyser3392d ago

Dude, you are hilarious...

you and Toshiba.

mighty_douche3392d ago

Google to buy Yahoo then? it wouldnt surprise me!

kingnick3391d ago

is that many MS haters would likely support a theoretical Google/Yahoo merger regardless of less competition. People like any excuse to bash MS.

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