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:
Microsoft Rejects Yahoo Bid Rejection

Microsoft Rejects Yahoo Bid Rejection

by , 8:10 AM EST, February 12th, 2008

Microsoft responded to Yahoo's take over bid rejection with a rejection of its own on Monday. The Redmond-based company said in a statement that it feels "moving forward promptly to consummate a transaction" will best serve both companies.

Microsoft executives did not say what the company's next step would be. At this point it could counter with an offer that comes in above the original US$31 a share, or $44.6 billion, offer, or it could try to sway shareholders and move for a hostile takeover.

"The Yahoo response does not change our belief in the strategic and financial merits of our proposal. As we have said previously, Microsoft reserves the right to pursue all necessary steps to ensure that Yahoo's shareholders are provided with the opportunity to realize the value inherent in our proposal," Microsoft said.

Microsoft presented the Yahoo with an unsolicited buy out offer on February 1 after the Internet search company reported a 23 percent drop in earnings. Yahoo responded on Monday by stating if felt Microsoft was "substantially undervaluing" the company.

Recent Headlines - Updated September 23rd

Mon,11:34 PM
Apple Posts iPhone 6 Commercials with Jimmy Fallon and Justin Timberlake
9:10 PM
Google’s Eric Schmidt Said ALEC Lying about Climate Change
8:24 PM
Chinese Site Reports Apple Planning October Release for iPad Air 2
5:40 PM
iOS 8: Hide and Unhide Images in Photos App
5:32 PM
Apple May Shut Down Beats Music Brand, but Stay in Streaming Music Market
4:19 PM
Last Chance to Register for MacBook Air Giveaway
2:44 PM
Strong iPhone 6 Sales Boost Canaccord’s AAPL Target to $115
1:35 PM
TMO Daily Observations: 2014-09-22
10:05 AM
Linex Technologies Ordered Apple’s Legal Fees in Patent Infringement Case
8:54 AM
iPhone 6, iPhone 6 Plus Launch Weekend Sales Hit 10 Million
Sun,11:42 AM
MGG 520: Wrapping Up Tech Week With iOS 8 & More
Sat,7:27 PM
Fun Rant about Those Who Claim Apple is the Copier
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!