Sunday, February 10, 2008

Why Yahoo! said No to bid

Yahoo! is today expected to set out its reasons for rejecting Microsoft's $42bn (£21.5bn) bid for the internet search giant.
The battle for Yahoo!
Yahoo! 'to reject Microsoft bid'
The board of Yahoo! met over the weekend and decided to reject the $31 a share offer but analysts suggested it is likely to accept a higher offer.

According to influential technology analyst Henry Blodget: "Yahoo! has now indicated that it won't refuse to sell the company - thus forcing Microsoft to decide whether to pursue a hostile takeover."
Microsoft chief executive Steve Ballmer met Yahoo!'s largest shareholder, Capital Research and Management, last week as part of a charm offensive to win over investors in the company.

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