The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Yahoo Rejects Microsoft Bid

Yahoo Rejects Microsoft Bid

by , 10:55 AM EST, February 11th, 2008

Yahoo officially rejected Microsoft's unsolicited buyout offer on Monday. The Internet search company turned down the US$44.6 billion offer stating that Microsoft undervalued it, and that it was acting in its shareholder's best interests.

Yahoo's Board of Directors unanimously rejected the take over bid and added "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."

Microsoft presented Yahoo with a combined cash and stock buyout offer after the company reported a 23 percent drop in earnings and said that it was planning to cut 1,000 jobs in February. The Redmond-based company hoped to leverage Yahoo to gain a larger slice of the online advertising market and to better compete with Google.

While Yahoo rejected Microsoft's offer, that doesn't necesarily mean the proposed buyout is dead in the water. Microsoft could counter with a new offer, or attempt a hostile takeover.

So far, Microsoft has not responded to Yahoo's rejection.

Recent Headlines - Updated November 27th

Wed,9:36 PM
Apple Reportedly Building Chinese Sapphire Plant with Foxconn
8:40 PM
ACM 282: The Steampunk, Sapphire, and Apple Watch Episode
7:46 PM
Melissa Holt on MacJury’s Holiday Gift Guide 2
4:42 PM
Steampunk USB Flash Drives with Motorized Gears - Really!
4:05 PM
Black Friday 2014: The Best Mac Deals
3:10 PM
iOS 8: Control Which Apps Can Access Your Private Data
2:50 PM
The Name Your Own Price Must-Have Mac Bundle
1:36 PM
TMO Daily Observations: 2014-11-26
10:46 AM
5 iPhone Apps to Cut Your Thanksgivings Stress
8:50 AM
iOS 8 and OS X Yosemite: Naming Group Conversations in Messages
Tue,9:01 PM
BuzzFeed Uses Apple Watches to Incentivise Staff
8:14 PM
The SKEYE Nano Drone Quadcopter: $34.99
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!