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 TMO Headlines - Updated October 28th

Fri, 1:35 PM
TMO Daily Observations 2016-10-28: Apple's Touch Interface Philosophy, USB-C and Thunderbolt 3 Explained
Fri, 10:52 AM
TV App Goes Part Way Towards Being a True Apple TV Unified Viewing Experience
Fri, 9:35 AM
Customizing Apple Watch Faces on Your iPhone
Thu, 8:04 PM
Jony Ive's Inside-Look Video for MacBook Pro with Touch Bar
Thu, 7:39 PM
ACM 382: How Pro Are the New MacBook Pros?
Thu, 5:53 PM
Apple Adds Support for 3 Video Codecs in Sierra and El Cap
Thu, 5:36 PM
Apple Releases Combo Updater for macOS Sierra 10.12.1
Thu, 5:06 PM
Apple Unveils Thinner MacBook Pro with Touch Bar, Touch ID, More
Thu, 3:46 PM
Apple's 'Hello Again' Event Wasn't About the Mac After All
Thu, 3:25 PM
TMO Daily Observations 2016-10-27: Apple's 'hello again' Wrap Up with new MacBook Pro Models
Thu, 2:44 PM
Apple Commercial: 'The new MacBook Pro featuring Touch Bar – So much to touch'
Thu, 12:53 PM
Mac Observer Apple Keynote Live Coverage
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!