Yahoo To Reject Microsoft Bid On Monday
It looks like Yahoo will be releasing an announcement on Monday rejecting Microsoft’s hostile takeover attempt. Microsoft’s $44.6 billion bid is way over the stock value, yet Yahoo believes that the bid undervalues the company. Many industry insiders are against the deal, believing that the takeover would give Microsoft an unfair business advantage.
The above information comes from recent Wall Street Journal and New York Times reports. I guess we’ll find out what happens in two days.