Yahoo! Says "No Thanks" to Microsoft
Yahoo has officially spurned Microsoft’s hostile takeover bid to the board of directors.
In its formal response, Yahoo said its board had concluded Microsoft’s unsolicited offer “substantially undervalues” the Sunnyvale-based company.
Yahoo indicated it could be lured to the negotiating table if Microsoft ups the ante, without mentioning the price it has in mind.
“The board of directors is continually evaluating all of its strategic options in the context of the rapidly evolving industry environment and we remain committed to pursuing initiatives that maximize value for all stockholders,” Yahoo said in a statement.
Separate from this news, I’m a little miffed at Yahoo! now because I’ve learned that they will be shutting off their Yahoo! Music Engine and Yahoo LAUNCHcast, which I have continually praised and recommended to people ever since I found it over 5 years ago.
Yahoo said they’ll be partnering with Rhapsody instead and I can tell you that I won’t be following them over there. I’ll begin making more use of websites like Pandora in the future.
Yahoo rejects Microsoft’s $44.6B bid - Yahoo! News
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POSTED IN: Corporate News, Online Services, Speculation
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